AUDCAD SELL

80
AUDCAD

Bearish Reversal
Preference:
Despite the recent positive movement in the price, we are encountering a significant obstacle due to the underlying structure that is affecting the overall trend. We are currently witnessing a bearish rising wedge formation, where the price is moving in a narrowing range with the upper boundary slanting downwards. If the price is rejected from this critical level, there is a strong possibility that the downtrend is still in place and that we may continue to see a decline in prices.

Alternative Scenario:
To confirm the strength of this particular area, it is essential to observe a daily closing price that surpasses its previous highs. This will provide us with a clearer indication of the area's potential for a sustained upward trend.

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.