Will The AUD/CAD Breakdown Fail?

PristineTrading

Junior member
26 0
AUD/CAD has been in a fairly controlled downtrend throughout the month of September Towards the end of September and the start of October we have seen it go sideways. In the chart below you will see that it broke down and has now quickly reversed back up with a powerful green candle.

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In the chart above you can see the line in the sand which, if broken above, would confirm the breakdown has failed. On the other hand, if price cannot move above the red line this would indicate that the bears are still in control and that more time is simply needed before price tries to move lower again.

Pay attention to this pair over the coming days because if the breakdown fails, there is plenty of room to move higher.

Trade well and if you have any questions, feel free to email [email protected].

We will also be having a FREE webinar on trading the Forex Market October 22, at 4am ET.

Trade Well!!


Pristine Capital Holdings, Inc.
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