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

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.


 Varchev Traders

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance