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AUDCAD Technical Overview and Trade Plan

AUDCAD Technical Overview and Trade Plan

Daily Chart and Trade Plan for 2020 Q1

0.91500 is the key resistance

LONG SETUP DETAILS:

Breakout and closing above 0.91500 would validate the rectangle breakout. The first target of the pattern is 0.92400. The structural target of the pattern is 0.93400.

The ultimate target of the pattern is 0.95300.

Note: A minor retracement: Bearish Shark pattern would be completed at 0.93400.

SHORT SETUP DETAILS:

If the price fails to break and close above 0.91500, it is likely to retest 0.89800.

Break and close below 0.89500 would be validated the double top pattern. The structural target of the pattern is 0.88000.

Note: This is a trade plan. Entry signals and intraday trade opportunities would be sent to the members.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses, and costs associated with investing, including total loss of principal, are your responsibility

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