Day trading strategies on AUDCAD 10-21-2016 by AzaForex forex broker, use these tips to help your forex rewards grow

A list of foreign exchange trading tips and strategies.
Australian dollar rate in the forex market has improved markedly and pretends to reconsider its position. On the chart of the currency pairs of Australian and Canadian dollar, we see enormous wish of Australian rate for growth. It is testing the strength of this resistance level not for the first time. If you look at the daily chart of currency it can be seen that these attempts of breakout level happened before. Even excitement news of traders that have happened in recent days, did not shake investors in their decision to invest in the Australian dollar. The nearest support level is in the area 1.0300 and it does not have the explicit forms. Although the currency does not have strong volatility characteristics, at the approach of the dollar at this level we could revise the target.

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Buy
•    The level of entry into long position: 1.0160
•    The level of profit and close the position: 1.0300 (140 pips)

Metal GOLD 
Possible bearish movement in the breakdown of the support level 1261

Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.2200

Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9960

Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.0870