Hi traders :) Here are some thoughts regarding the possible CADAUD short term price action. As we can see from the chart the pair, after a long bullish trend, has formed a strong resistance down trendline where price has bounced off several times. Since the end of November the pair has reached the volumetric resistance of 1.1116 accompanied by a Stochastic occult divergence which suggests the possible continuation of the current down trend. Look at the chart for details regarding entry stop and targets.
Write me in the comments for any questions or thoughts.
Good luck :)
Write me in the comments for any questions or thoughts.
Good luck :)
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