AUDCAD – Long and short term analysis

Hope you all had a great weekend! But now it’s time to connect to the market again, because it looks like we’ll have good opportunities this week, we don’t have too many fundamental announcements, etc. So good luck!

Now, we got to pay attention to the AUDCAD, it is trading in a very clear condition on both, the short term and long term charts. On the long term charts, I like the way it reacts to the most recent support and resistance levels:

Since it was rejected from an important support level, it is likely to continue its way up until it reaches the next LT resistance level. On the short term charts, it is trading above every important level:

As long as the AUDCAD stays trading above HOPS1, I’ll be looking for long opportunities.

Trade Safe!

Raul Lopez
Forex Course

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .