Forex forecast analysis for AUDCAD currency pair
The currency pair is in a downtrend and has again approached the support level from which the price bounced recently. 200 simple average as the best forex trend indicator shows us that we can sell this currency pair. This is a strong technical analysis signal that signals the continuation of the trend in case of a breakdown of the support level. Our forex trading strategy is that we will place a pending order just below this support level and an open position in forex as soon as the price reaches it.
trade tip for traders not to rush and wait until all the conditions for opening a position match.
Order Type: Pending Order - Sell Stop
Entry Price at 0.8740
Take Profit at 0.8700
Pips Earning: 40
Profitable forex strategies:
EURUSD sell at the price of 1.0000
USDJPY buy at the price of 137.75
GBPUSD sell at the price of 1.1805
USDCHF buy at the price of 0.9855
How to forecast forex trend
The profit can be $314.96 if the trading volume of 100000 AUD (1 Lot).