AUDCAD Excellent buy signal on the 1D MA200

Sep 13

The AUDCAD pair gave us an excellent sell signal last time (July 08 2024, see chart below) and easily hit the 0.9000 Target:

This time, we have an established Channel Up with two Higher Highs and three Higher Lows priced in already. We are currently on the new Bullish Leg following the rebound on the 1W MA200 (orange trend-line).

As long as this holds, we will treat every touch on the 0.786 as a buy opportunity, similar to the Triple Bottom of March - April. That Bullish Leg marginally surpassed the -0.5 Fibonacci extension to print its Higher High, so our Target will be just below it at 0.94000.

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