AUDCAD RE-VISIT

Tendency: Uptrend ( Bullish )
Structure: Trendline | Breakout
Observation: i. Since the bearish impulse, the demand zone has been holding price action for 5 months.
ii. Since price hits demand zone there has been a steady rise characterized by the bullish trendline on the chart.
iii. A break of this trendline is observed at the 0.90000 zone which coincides with a major support break.
iv. Breakout of support at 0.90000 insinuates price needs the bears to gain the bullish moment at this juncture.
v. Price accelerating towards our Moving Averages.
Trading plan: SELL/BUY possibilities with minimum potential profit @ 500 pips in total.
Risk/Reward: 1/4
Potential Duration: 10 to 25 days

Watch this space or Telegram channel for updates as price action is been monitored.


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