This is actually a correction to my first post on AUDCAD....So sorry for this....AUDCAD has been on a nice uptrend since January...Though it hit the minor resistance but didn't break the structure which shows that buyers are still in control.. Now that it's approaching the major resistance,let's be vigilant and as well look carefully.. What happen at the major...
AUDCAD has been on a nice uptrend since January...Though it hit the minor resistance but didn't break the structure which shows that buyers are still in control..
Now that it's approaching the major resistance,let's be vigilant and as well look carefully.. What happen at the major resistance will tell what our next move will be...If it form reversal...
Looking at the previous data on the audusd analysis,there is a downward trend and when it got to the support zone, it reversed.So now,the trend has reversed and its almost getting to the resistance zone on a 1H time frame.So lets wait for a reversal candlestick.
