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AUD / CAD: Opportunities For Sell

AUD / CAD: 1 hour chart

Price on levels of diagonal resistance

Price action: pin bar on resistance and 200MA – a negative signal

indicators:
50 / 200MA: 50 under 200, a price below 200MA – the movement remains short
DeM: an area of over bought market – possibly turning the price downwards.

SL: 0.98750

Alternative scenario: If the price crosses above the 200 MA is possible to break the negative formation and see new upward momentum.

Jr_Trader_I_Ivanov


 Varchev Traders


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