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Audcadsignal

AUDCAD IS AT A MAJOR LEVELAUDCAD is at a major level right now, the area of support it is at has been tested and failed to break it multiple times. The overall bias of price action is downwards due to the descending trend line marked out in black. Price is travelling in a descending channel marked out in blue, If price rejects the area of support its at now then we will be waiting for price to break the channel, retest it before we think about any long trade opportunities. However if price breaks below the pink rectangle and comes back up to retest it we will be looking for short trade opportunities. LEAVE YOUR THOUGHTS BELOW.....
Short
by UnknownUnicorn2396129
AUDCAD - LARGE CHANNEL TOUCHED (LONG)AUDCAD was travelling within a descending channel on the Daily chart for a long time until price broke out to the upside and formed an ascending channel which is marked out with the black lines. Price is now at the bottom of the channel and it has also formed a doji candle, this indicates a reversal in price to the top of the channel. We will keep you updated on price action as this trade plays out. The target and Stop Loss is marked out on the chart IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.
Long
by UnknownUnicorn2396129
AUDCAD 100 PIP SHORT AUD CAD HAS BEEN TRAVELLING IN A VERY MAJOR DESCENDING CHANNEL WHICH CAN BE SEENN MORE ON THE WEEKLY AND MONTHLY CHART. (BLUE CHANNEL) The most recent test on this channel that we just seen was at the top of the channel, on its rally down towards the bottom of the channel price has formed another descending channel marked out in black. All support and resistance zones are marked out above on the chart, we have literally just seen a test of the top of the channel which indicates a short all the way down to the bottom of the black channel. targets are market out on the analysis PURPLE RAYS ARE OUR CLOSER SHORT TERM TARGETS
Short
by UnknownUnicorn2396129
AUDCAD DAILY ANALYSIS AUDCAD DAILY - price has been moving in a large descending channel marked out in blue. Price hit the top of the channel and on its way down it has formed another descending channel marked out in black.Zones have been marked out for you, have fun trading, CREATE A PLAN AND TRADE THE PLAN We could see a move down to the pink highlighted rectangle if price stays within the descending black channel, if price breaks out of the black descending, we will see a move back up to the top of the blue descending channel, and most likely break out upwards out of the blue channel, however we will wait for the BREAKOUT AND RETEST BEFORE PLACING ANY LONG TERM BUYS!
by UnknownUnicorn2396129