Lingrid | AUDCAD in the CONSOLIDATION zone

28 thg 5

The price perfectly fulfills my last idea. It took off and hit the TP. The daily timeframe is showing a bullish trend, with the market consistently updating higher highs and higher lows. AUDCAD has been consolidating within a narrow range of 0.91000 to 0.90500. It recently broke and closed above the significant level of 0.9000. Given this momentum, I anticipate the market will continue to consolidate within this range, with the potential for a bounce off support and an upward move towards liquidity area above the equal highs. Considering the overall bullish trend, it's likely that the price will rebound from the support level and downward trendline. My target is the resistance at 0.90960

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻