USD/AUD 4H Chart Analysis
USD/CAD is getting really close to make it's 3rd touch on the upside, which coincides with the 1.464-1.468 resistance zone of it's descending channel so a breakout it's possible. Since this is a volatile market there are a few thing you should take into account:
For longs:
-Wait for a decisive candle close above the channel and the resistance zone and look for an entry on a lower time frame;
-Next possible target at 1.480 area;
For shorts:
-If we see a good rejection on the channel and resistance zone, we can start looking for an entry in a short position with a stop loss above the resistance zone and possible targets on the support areas drawn below.
Be patient, let the market show you which way to go, do always use stop-losses and remember this is not financial advice.
For longs:
-Wait for a decisive candle close above the channel and the resistance zone and look for an entry on a lower time frame;
-Next possible target at 1.480 area;
For shorts:
-If we see a good rejection on the channel and resistance zone, we can start looking for an entry in a short position with a stop loss above the resistance zone and possible targets on the support areas drawn below.
Be patient, let the market show you which way to go, do always use stop-losses and remember this is not financial advice.
Feragatname
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