AUDCAD - Momentum Divergence and Bearish Pennant?
AUD has had a strong run-up against the CAD and appears to be pausing with consolidation taking the pattern of a rising Bearish Pennant as well as a divergence between price and Momentum.
This pause could precede a breakout to retest previous resistance/support levels and previous pivot highs/lows which are in close proximity, so high non-directional volatility could trigger tight stop-losses.
Expectations amongst the retail traders are that it is due for a bearish retracement so there is a high likelihood of a bullish spike fueled by their stop-losses above the market prior to this retracement.
This pause could precede a breakout to retest previous resistance/support levels and previous pivot highs/lows which are in close proximity, so high non-directional volatility could trigger tight stop-losses.
Expectations amongst the retail traders are that it is due for a bearish retracement so there is a high likelihood of a bullish spike fueled by their stop-losses above the market prior to this retracement.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.