AUDCAD Trade Idea 0706-1106
From D1 and H4 TF both are in downtrend .
Recently CAD sentiment is strengthening since Apr21 BOC rate decision.
Price is moving in the descending channel where price recently is rejected at key level indicated as zone B.
Look for sell opportunity if the price were to retest again at zone B for better entry.
Do take note coming week BOC rate decision at Wed 10pm (MYT) where rate is expected to be held unchanged at 0.25%.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Recently CAD sentiment is strengthening since Apr21 BOC rate decision.
Price is moving in the descending channel where price recently is rejected at key level indicated as zone B.
Look for sell opportunity if the price were to retest again at zone B for better entry.
Do take note coming week BOC rate decision at Wed 10pm (MYT) where rate is expected to be held unchanged at 0.25%.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
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