AUDCAD Long - Multiple Time Frame Analysis

Monthly Time Frame

• Price made a bearish push until it closed as a doji candlestick found support at the weekly demand zone then made a bullish push
  
• After the bullish push price met resistance at a weekly supply zone ultimately forming a high. Price then began to sell off (retrace).
  

Weekly Time Frame

• Price met resistance, formed a double top, and closed as a doji followed by a bearish engulfing signaling a selloff.
  
• During the sell-off (retracement) price found support at the 61.8 fib level and closed as doji candle stick signaling a potential reversal.
  

4Hour Time Frame

• I am anticipating price forming a double bottom as a candlestick reversal pattern.
  
• I am expecting a bullish push to 0.895
  

Yorum:

Price is beginning to make its bullish push as anticapted.