AUDCAD Trading Plan -- 15/Aug/2020

Hello Traders,

Hope you all are doing good!!

The last trade reached the target.
Current situation is that AUDCAD seems to be facing Bearish pressure.
As per the COT report, speculators are SHORTING AUD more than earlier and CAD as well.
I expect CAD more LONGS by speculators this week adding probablity for this pair to go down.

Wait for the price rejection at mentioned zone which is falling under the golden Fib zone of the last impulse move. Also, the zone is recent heavily traded zone which is overtook by Bears. Hence, the POC/zone can act as the resistance and make the price fall more.

800 hours MA which was acting as the support for 4 months uptrend got recently broken by the pair.

800 hours HMA also falling in the zone which is an added confluence to our analysis.

TP1 @ 0.94450
For aggressive traders - TP2 @ 0.93


Please follow me and like if you agree or this idea helps you out in your trading plan.

Disclaimer: This is just an idea. Please do your own analysis before opening a position.

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Congrats traders!!