AUD/CAD testing the 200 period moving average

AUD/CAD testing the 200 period moving average

The AUD/CAD price reached the Daily 200-period moving average and has been trading below it for the third day now. The last two times the price reached the long-term MA, the price bounced lower and started a new bearish period.

So far, however, the price isn’t able to sell off and the last two daily candlesticks show a (weak) rejection of the lows.

On the 1H intraday timeframe, the price is forming a Head and Shoulders pattern with a tilted neckline. As long as the price does not fully break lower, bears should stay out. The fact that the daily candlesticks show rejection signals is going against a short bias as of now.

 

 

Price action is among the most popular trading concepts. A trader who knows how to use price action the right
How did you find your trading system? This is where most traders go totally wrong and it is one of
What are the best Forex trading strategies? This is, of course, a question I get asked many times a day
Time flies and we are almost half-way through March. How is your trading coming along? Are you making progress and
#1 Daily loss limits This tip made a big difference in my own trading. In the early days, I often
Psychology is not the most important part of becoming a successful trader. This may sound a little strange coming from

Comment ( 1 )

  • MD. Numan Uddin.

    Do you have classes or articles or videos or courses for XAUUSD ( gold vs USD)?



Advertisement - External Link
Join our newsletter, get the free eBook and the webinar
10 Laws for Trading Success
Subscribe & Get eBook
I agree to the Privacy Policy
No thanks
10 Laws for Trading Success
Join our newsletter, get the free eBook and the webinar
Subscribe & Get eBook
No Thanks
I agree to the Privacy Policy

Cookie Consent

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