AUDCAD further bearish sentiment?
Hello Traders,
today we would like to share with you the AUDCAD as it seems that it may push lower. As market hit for the third time our reaction point at 1.03, is bounced back and is making in lower timeframes a potential S-H-S formation.
This may be first clues that a lower extend to the downside is possible.
Looking at our intermarket indications, which always gives us a clue about potential market capital flows, it seems that further outflow may follow. The only indication which currently seems to recover a little is AUDCAD vs. Commodities ratio.
Therefore market may oscillate a little further around trendline break before potentially falling further to the downside!
We will wait today's close and see if potential trading opportunities occur.
Let's see. We will keep you updated!
Cheers,
Secrets2Trade
today we would like to share with you the AUDCAD as it seems that it may push lower. As market hit for the third time our reaction point at 1.03, is bounced back and is making in lower timeframes a potential S-H-S formation.
This may be first clues that a lower extend to the downside is possible.
Looking at our intermarket indications, which always gives us a clue about potential market capital flows, it seems that further outflow may follow. The only indication which currently seems to recover a little is AUDCAD vs. Commodities ratio.
Therefore market may oscillate a little further around trendline break before potentially falling further to the downside!
We will wait today's close and see if potential trading opportunities occur.
Let's see. We will keep you updated!
Cheers,
Secrets2Trade
Komen:
We are still waiting for the continuation of outflow of capital, which would give the market a push to the downside. Trade currently at entry level.
Komen:
