Bearish Hidden Divergence Detected
The pair could be facing a bit of correction or sell-off by the sellers as the buyers been in a fatigue kind of trading mode as we see exhaustion on the current structure especially the last one and half week or so as you can view small green candles with upper wicks being equal to the size of the main body and to some others abet elongated or longer than the main body and in addition to that, round about price handle level 0.96405 area acting really strong resistance ceiling having being tested now four times.To get more news about WikiFX, you can visit wikifx official website.
Market participants would be interested to drop the macd on their Aud/Cad daily chart and you could see it is indicating a hidden divergence.
Of course, ones discretion and risk management is advised.
Jasper Njuguna is a self-taught discretionary financial markets trader. With cumulative 5 years experience trading the markets and out of which, one and a half years of that as a prop trader, trading large and mid-cap American equities at one of the DAY TRADE THE WORLD offices.
Prior to switching career interest to trading, I have 9 years of experience in senior management roles driving small to large business development and B2B relations in creating and implementing; learning & development solutions, programs, organizational strategies & frameworks, and blended learning approaches for companies and institutions in Africa.