Talking Points:
AUDCAD Technical Strategy: Bullish
Elliottwave Count: Short term bullish for A-B-C FLAT correction
Analysis:
AUDCAD is ticking up for bullish reversal. We are expecting reversal to be happen any time in next week to complete it's A-B-C correction. Current pattern suggest incomplete structure and require one move above 1.0289
Same time ATX (Australian Index) is trading on triangle and expecting one more upward move for wave E which can push all AUD move higher for short term trend. While,
CAD basket is bearish which suggest short term CAD weakness while strength in AUD pairs. With that context, we are betting on bullish on this pair.
Action
Action:
We are long on this pair with defined stoploss, We will continue to hold our longs for near future and will add more position, if price level are promising and satisfied our risk:reward ratio. To keep upbeat with latest analysis and trade action, please subscribe us on plan. You also experience our service with 14 days free trial
Few this months big trades for this months:
- Crude Oil (US) traded from 49.37 and closed on 45.10 (Link for trade history: http://hoagtrading.com/performances/...alculation/675)
- Crude Oil (US) traded from 46.20 and closed on 42.00 (Link for trade history: http://hoagtrading.com/performances/...alculation/689)
