AUDCAD SHORT!
Not going too in depth with this analysis, but as you can see the all the technical confluences would make it rude not to be looking for a short on this pair. We have the 0.960 area that has acted as an area of support since early Jan 2017, before finally being broken in mid Aug 2018. now price has came back up to retest this area. Not only that but as you can see we have the 200MA and 61.8% fib level all acting as a source of resistance. I'm also looking for the continuation of the last elliot wave. Today's daily candle is forming a nice inverted hammer (gravestone doji, inverted pin bar) candlestick which shows sellers are getting ready to make a bid for control over the market.
Hope this analysis helps, feel free to like, share, or comment as long as its positive.
Regards,
Alex
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.