Forex Trading recommendation on AUDCAD 29-04-2016 by AzaForex

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The Australian dollar still dominates in relation to the Canadian dollar. The downtrend on this pair is still ongoing. In the Forex market now a slight recovery before the weekend, many traders close out their positions, than move prices in the market. Therefore, we can expect a small movement.

The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
 
If the support level is broken you can use the following recommendation:
•             Chart timeframe: H4
•             The trade recommendation: Sell
•             The level of entry into short position 0.9535
•             The level of profit and close the position: 0.9435 (100  pips)
 
 
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.4670
 
Metal GOLD
Possible bullish movement in the breakout of the resistance level 1284
 
Forex currency pair EURUSD
Possible bullish movement in the breakout of the resistance level 1.1415
 
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 0.9600