The Australian Dollar Canadian Dollar.

Good morning Dynamic Traders,

Todays chart is of the AUDCAD, on the daily timeframe.

The image below currently has price action having closed above the higher fibonacci breather level which could be an indication that price may go higher.

Some confluences to support this is the MACD heading up, and also price ( being the most important factor in analysis ) is also in the parameters of DD as taught by 'The Dynamic Trader'.

However, please be aware that the short term trend is down and so caution is warranted here should the long trade be taken as it may be in the process of a 123/DT which could also tie in with the AdvancedGet EW count as this could be a 3 wave A.

If it does turn out to be a 123/DT then a possible 140 pips (ish) plus could be on offer.

However should the opposite trade happen then use your tools to work out an entry and trade accordingly.

Please ensure to do your own analysis before taking any trades.
















Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.