Analysis on AUDCAD 6.07.2017

Analysis on AUDCAD 6.07.2017

Written by: PaxForex analytics dept - Thursday, 06 July 2017 0 comments

The price is below the moving average 20 MA and MA 200, indicating the downward trend. 
MACD is below the zero level.
The oscillator Force Index is below the zero level.
If the level of support is broken, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 0.9815
• Take Profit Level: 0.9700 (115 pips)

If the price rebound from support level, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 0.9880
• Take Profit Level: 0.9940 (60 pips)


GBPUSD 
Possible long position at the breakdown level 1.2990

EURUSD
Possible long position at the breakdown level 1.1380

USDCHF
Possible short position in the breakdown of the level 0.9630

USDJPY
Possible long position at the breakdown level 113.70