If we pay attention to the 4 hour chart of AUD/CAD cross currency pairs, there is the appearance of deviation between price movement with Stochastic Oscillator indicator which also happens to touch the Resistance level from Chart Daily Orderblock @ 0,8957 so that in the near future, AUD/CAD has the potential to weaken down to the level 0,8918 and if this level successfully broken down, then the next target to be aimed is 0,8891 and if the momentum as well as the volatility is supporting, then it is not impossible that the level 0,8778 will be the next target to be aimed, but if on the way suddenly there is a strengthening correction which breaks above the level 0,8918, then all of the weakness scenario that has been described before will become invalid and cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.comIf we pay attention to the 4 hour chart of AUD/CAD cross currency pairs, there is the appearance of deviation between price movement with Stochastic Oscillator indicator which also happens to touch the Resistance level from Chart Daily Orderblock @ 0,8957 so that in the near future, AUD/CAD has the potential to weaken down to the level 0,8918 and if this level successfully broken down, then the next target to be aimed is 0,8891 and if the momentum as well as the volatility is supporting, then it is not impossible that the level 0,8778 will be the next target to be aimed, but if on the way suddenly there is a strengthening correction which breaks above the level 0,8918, then all of the weakness scenario that has been described before will become invalid and cancel itself.(Disclaimer)The material has been provided by InstaForex Company – www.instaforex.com Read More
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