FX.co - Analysis of the currency pair AUD / CAD by the method of Tic-Tac-Toe for 10/07/2017

10 July 2017 at 10:39AM (UTC+0)

Long-term review

Schedule "XO" step 0.50%:

On the senior chart, we observe an exclusively downward trend.

The pair is trading in a downward wave of a downtrend, which indicates the strength of the sellers.

The relative strength index is in the column "O", which also speaks of the pressure of the bears.

Earlier, overcoming the support level of 0.99 signaled a double bottom for sale, thereby changing the main trend to a downtrend.

The initial goal for sellers is the mark of 0.96, with the approach to which it is recommended to close 1/2 of the total volume of short positions.

The main goal will be a support zone in the area of 0.94.

The protective stopping point is the maximum fluctuation of 1.001.

Trading recommendations:

It is recommended to hold short positions.

Analysis of the currency pair AUD / CAD by the method of Tic-Tac-Toe for 10/07/2017

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

FX.co ★ Analysis of the currency pair AUD / CAD by the method of Tic-Tac-Toe for 10/07/2017