AUDCAD potential buying opportunity

2019年8月12日

I say potential here because in order for AUD (the base) to rise above CAD (the quote), CAD has to take a back seat to oil prices and we aren't seeing that this minute. CAD futures are going to have to drop if we are looking at a shift in momentum for AUD or we will have a situation of strength v strength/weakness v weakness instead of the ideal strength vs weakness.

The chart is pretty self-explanatory. For me, I want to see a match up of volume and the price action before I would even consider buying as I don't want to get caught with my britches down.