The AUDCAD has recently completed a triple top and has formed hidden divergence on the MACD. This is signaling a continuation of the downtrend. Also the COT Report has the Australian Dollar in a heavily short position and the Canadian Dollar positively long which setup up a nice short for us. Both of these currencies are commodity correlated. Gold is falling( Aussie correlated) and Oil is looking for a rebound but also falling( CAD corelated). And the Market cycle for this pair is bearish for Aug 2 to Sept 28.
Entry 0.8955 | SL 0.9110 | TP1 0,8850 | TP2 0.8750
Entry 0.8955 | SL 0.9110 | TP1 0,8850 | TP2 0.8750
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close trade with a small loss
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