Triple Top on AUD/CAD

Triple Top on AUD/CAD

The current technical pattern on the AUD/CAD currency pair signals the development of the bearish sentiment after a continuous consolidation. A classic pattern, Triple Top (H4 timeframe), has been formed in the trading instrument. At the moment, the AUD/CAD quotes are testing the local support level of 0.90300. We recommend paying attention to this situation.

If the price fixes below 0.90300, it is necessary to look for entry points to the market to open short positions. The immediate goal for profit taking is the demand zone of 0.89800-0.89500. The movement is tending to the round level of 0.89000. When tracking a position, we recommend using a trailing stop.

by JustForex 2019.12.16

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Social Trading: What Is It and How To Make Money Using It
Since the trading migrated online, the traders have been communicating on the online forums and other special services. Some traders teach their less experienced peers how to earn on trading, mitigate related risks, and build their careers in trading. This trend is known as social trading.
Read more
Copy Trading: Important Risks and Advantages to Take into Consideration
Copy trading is one of the popular trading strategies that allows traders to copy in a step-by-step manner the trading moves of other traders, commonly considered to be experienced and successful. Copy trading is a good way to start a trading journey without conducting long time-consuming research of markets and instruments. However, mechanical copying of steps made by other traders has its particular risks and benefits. These risks and advantages, as well as useful tips and rules of copy trading, are gathered for your convenience in this article.
Read more
The Best Time to Trade Stocks In South Africa And A Glimpse Into The World Of Global Stock Exchanges
Trading stock is the first thing that comes to mind when the word 'trading' is uttered. You can keep them for years as a portfolio, building your wealth gradually, or try some risky market gambling for quicker profits. So, if you are interested in this solid and 'aristocratic' kind of assets, read this guide on how to perform stock trading in South Africa and when to do it for maximum effect.
Read more