Short term cycle for AUDCAD

Hi friends,

Seems that we have interesting opportunity forming on AUDCAD 4H chart.

The is daily band to band move on the bollinger bands, and the pair is right on 200 daily moving average.

On 4H chart we can find clear divergence which means that the pair will create a bottom soon and start it’s correction up.

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The important supports to watch for this retrace are –

1.0390
1.0340
1.0250

Here is the chart:

I wish you a wonderful day

Vladimir Ribakov

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.