AUDCAD Trading Plan -- 28/Sep/2020

Hello Traders,

Hope you all are doing good!!

I have Bearish Bias towards this pair. Below is my analysis for this pair.

Currently the pair is making correction till the previous support level which might will act as resistance now at 0.94900. At this point we will mmonitor the price action to give us a bearish signal. Also, the daily RSI must get the resistance at 48 level during this corrective move in order to give us an additoinal confluence.

TP @ 0.92700

NOTE:- From COT perspective, obviously the AUD is looking stronger (stays at the same level with some LONG and SHORT positions adding) and CAD weaker (Profit taking on LONG & SHORT). But i see it just speculators market manipulation for selling the pair at a better price & that adds to our analysis for this corrective move. If next week, the COT data tells us that AUD got weaken, then it will confirm our analysis.

Please follow me and like if you agree or this idea helps you out in your trading plan.

Disclaimer: This is just an idea. Please do your own analysis before opening a position.

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