AUDCAD: New Trade Opportunities at the Support
Australian Dollar/Canadian Dollar FX:AUDCAD
The price reached 0.94000 support zone . It looks like we will get a reversal from this zone. MACD and RSI are going to support the price reversal. What does it mean for us?
We can use the hourly and minutes timeframes and search for exact entry points for buying. We will need reversal signals from the support and trend reversal signals for opening long positions.
If the price breaks the low of the previous candles, it will be a breakout signal below the support. Use this opportunity for shorting. The best trades will come from the lower timeframes.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Source: TW DLavrov