Going Long on AUDCAD.

11 May 2017

This weeks short lived CAD bullish momentum seems to be slowing down. With that we have a good opportunity to go long with AUDCAD. This fits perfectly with the bounce off the trend line and a nice bullish candle starting to form. I would go long until the strong resistance level that has been formed around the 1.03400 area. This will give you a 2:1 minimum trade. The StochRSI indicator is also in the oversold area to help confirm the trade opportunity. Please trade at your own risk. Happy Trading.

11 May 2017

Not

Sorry for covering the bounce off the trend line, it was not like that when I was making the chart.