Is AUD/CAD in a Long-term Bullish Channel?
Is that a rhetorical question? ;)
Even if price retraces to the downside in the near term, I am a Bull over the long-term plus it looks like a bullish Inverse H&S formation which are extremely powerful and reliable even before breaking the neckline as you can clearly see the increasing momentum.
If you trade the Kiwi/CAD then for the long-term look for the exact opposite [strong bearish channel and multi-month downtrend].
AUD/CAD is what I like to call an SVP {a Super Valuable Pair} because each pip is worth a lot not to mention the Overnight Swap Rates are positive for Long positions so make sure to Buy dips! I like to classify my favorite pairs as either an HVP {High Value Pair}, an EVP {Extremely Valuable Pair} or an SVP {Super Valuable Pair} based on a variety of factors and situations which can and do change due to the dynamic nature of the current market conditions.
Upside targets will be added in and updated when I get some more free time, maybe this weekend.
Even if price retraces to the downside in the near term, I am a Bull over the long-term plus it looks like a bullish Inverse H&S formation which are extremely powerful and reliable even before breaking the neckline as you can clearly see the increasing momentum.
If you trade the Kiwi/CAD then for the long-term look for the exact opposite [strong bearish channel and multi-month downtrend].
AUD/CAD is what I like to call an SVP {a Super Valuable Pair} because each pip is worth a lot not to mention the Overnight Swap Rates are positive for Long positions so make sure to Buy dips! I like to classify my favorite pairs as either an HVP {High Value Pair}, an EVP {Extremely Valuable Pair} or an SVP {Super Valuable Pair} based on a variety of factors and situations which can and do change due to the dynamic nature of the current market conditions.
Upside targets will be added in and updated when I get some more free time, maybe this weekend.
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