Two great sell opportunities on this chart for AUDCAD

22 Eyl 2020

Mid-Term Forecast:

Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.9597). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. AUDCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.

Take Profits:
TP1= @ 0.9505
TP2= @ 0.9405
TP3= @ 0.9270
TP4= @ 0.9065
TP5= @ 0.8915

SL: Break Above R2
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Short-Term Forecast

Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.959). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. AUDCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.

Take Profits:
TP1= @ 0.9522
TP2= @ 0.9487
TP3= @ 0.9420
TP4= @ 0.9290
TP5= @ 0.9195

SL: Break Above R2

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