AUDCAD Analysis

Price is currently trading within and continuing to form a decending widening wedge (which still hold even on the D1). I made a further analysis on the H4 and foound that price has formed a decending widening wedge too. We are currently nullish from a second resistance trrendline touch. I believe price will continue long until it gives us the third touch on the resistance trendline, before dropping again. On the third support line touch, I expect price will give us an impulse move up (assuming price doesnt break below. In the meantime, I will be looking potential entry opportunities to ride the wave up.

*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial.
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