AUDCAD higher time frame trend channels
Price is consolidating.. a break above 0.97000 considered a bullish market, a break below 0.94000 considered a bearish market.
Around the 0.95500 level is the mid price of the consolidation.
Waiting for moving average set ups on lower time frames as confirmation of direction.
Friday 4th september candlestick close on daily time frame is showing SMA sell set up but price spiked the 50EMA (which is also 3.4 pips away from fridays low) and retracted.
I'm thinking monday 7th september will be more bears than bulls & heads towards 0.94500
Around the 0.95500 level is the mid price of the consolidation.
Waiting for moving average set ups on lower time frames as confirmation of direction.
Friday 4th september candlestick close on daily time frame is showing SMA sell set up but price spiked the 50EMA (which is also 3.4 pips away from fridays low) and retracted.
I'm thinking monday 7th september will be more bears than bulls & heads towards 0.94500