Mixed Feelings - Australian Dollar To Canadian Dollar (AUD/CAD) – Top-Down Analysis!

Eurozone in Crisis!? CPI Is Really High. Indicator Has Reached 7.5%!

AUDCAD is overall bearish however, it is approaching a strong support zone in blue so we will be looking for buy setups on lower timeframes.

on H1: AUDCAD is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)

AUDCAD – Top-Down Analysis! - 1

Meanwhile, until the buy is activated, AUDCAD can still trade lower inside the support zone .

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!

~Rich

Eurozone in Crisis!? CPI Is Really High. Indicator Has Reached 7.5%!

Richard Nasr

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