AUDCAD Analysis- FXOPEN:AUDCAD faced the supply near the 0.88170-0.87990.
-Per the supply /deemand rule need to test multiple support lines again to cross the supply zone.
-If the price closed below the MSL, there is a chance to test the previous swing low.
-Recommended that wait for a long near MSL and SL should be 0.87139, and TP is the supply zone.
-If long scenarios do not happen, every bounce is a short opportunity for the $FXOPEN:AUDCAD.
Note:
All technical levels are marked in the chart.
Audcadsetup
Keep an Eye on AUDCAD Wait for BreakoutWe are doing AUDCAD Analysis in Daily Time frame
AUDCAD right Following Down Channel pattern You can try to Buy After Break of the Channel pattern you can But Take profit on previous High point and Stop area below the previous low.
We need to wait for a breakout then think to buy and use Take profit and Stop loss.
Note: This is only for Educational Purpose this is not Investment advice.
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Thanks
Adil Khan
AUDCAD: RISK Sell@0.99572 SL@0.99862 T1@0.99246 T2@0.98964AUDCAD is in a trading triangle which is unable to break the higher end of triangle since past few days. opening a SHORT opportunity in AUDCAD.
SELL AUDCAD @ 0.99572 with SL@0.99862 and T1@0.99246, T2@0.98964
This is a RISK Trade and should only be taken after consulting your financial advisor.