CADAUD trade ideas
Shorting Opportunity on AUDCADThe pair grabbed liquidity from above levels and headed downwards to the previous demand zone created but looks like we are going to cross that level of support and create a new low, but we have to wait for the price action to form, but a conservative short can be attempted with the targets mentioned.
AUDCAD AnalysisAs our previous analysis of ' AUDCAD ' we're looking for a long term buy up to the IMBALANCE area at least. As the market has shot up, this is another chance to get in!!
Setup Contains:
1. Stop Hunt (Sell Side Liquidity)
2. Break of Structure
3. Return To Orderblock (Expecting)
FOLLOW PAFX & TRADE LIKE BANKS 💸
💡Don't miss the great buy opportunity in AUDCADTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.8874).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 43.
Take Profits:
TP1= @ 0.8929
TP2= @ 0.8980
TP3= @ 0.9051
TP4= @ 0.9132
TP5= @ 0.9188
SL= Break below S2
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