AUD/CAD Daily Resistance vs. Monthly Support

Advertisement - External Link

AUD/CAD Daily Resistance vs. Monthly Support

The AUD/CAD shows a unique situation when it comes to technicals.

The left Daily chart shows the price touching the 100-period moving average. The current momentum is low due to the Easter holiday break, though. Just above the 100-period moving average, the long-term 200-period moving average is waiting. The 200-period moving average has been used multiple times in the past as strong resistance as the Daily chart shows.

The right Monthly chart shows a different picture. The price just created a squeeze (or trap) pattern below the lows of the 2010 lows. A squeeze often sets up trends away from the long wick. The current monthly candle for April shows the bullish momentum after the squeeze. The next strong resistance on the Monthly chart is the 0.92 price level.


 

 

There are numerous profitable candlestick signals in the field of technical analysis. Not all of them perform well. In every
The daily chart of the Nasdaq shows that the price is approaching a significant resistance cluster. The current price action
Change is progress, stagnation is death. That is the truest truth, especially in capitalism and thus also in trading. Grow
1. You can’t go broke taking profits This is a very dangerous statement because, although it makes sense at first
What are the best Forex trading strategies? This is, of course, a question I get asked many times a day
The AUD has been the winner this week so far. The AUD/USD is almost pushing into the 0.67 resistance level.

 

Comment ( 1 )

  • Blessed Mathew

    Thank you so much for this sir.. So we are looking at a BULL RUN all the way to 0.92 resistance sir??

Give a comment

Mentoring, webinars
& trade setups
Automated
Forex Trade Ideas
View Forex Info
Your offer is still here!

Cookie Consent

This website uses cookies to give you the best experience. Agree by clicking the 'Accept' button.