All the AUD pairs seem to be very active today. AUD’s “Monetary policy meeting minute” has acted as the fuel to make all the pairs hot that are related to the AUD. Among all the AUD pairs, AUDCAD seems to be the best one. Have a look at the H4 chart of AUDCAD. There is a bearish Trend line, which has been obeyed number of times. In fact, today’s bearish price move has started right from there as well. Thus, selling the pair after upward correction should get us some green pips. Let us have a look at the H1 chart of AUDCAD to find out the levels to sell, to set stop loss and to set take profit.
AUDCAD Free Forex Trading Signals – 18th April 2017
As we see that, the price has been bearish from 1.01200. We have had 4 consecutive bearish candles from that level. The price has started correction. It would be best if the price goes to 1.00820 and produces an H1 reversal candle right there. If this happens, then selling the pair by setting stop loss at 1.01200 and take profit at 1.00270 would be a good option.
Let us have a look at the summary of the trade
- Sell Stop Order: – at 1.00820 after an H1 reversal candle
- Stop Loss Level: 1.01200
- Take Profit Target: 1.00270
The price might start moving where the price is now (look at the chart). However, it would be wise not to take a short entry from here, but at the recommended level to maintain a good risk and reward ratio.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: AUDCAD Free Forex Trading Signals – 18th April 2017
The post AUDCAD Free Forex Trading Signals – 18th April 2017 appeared first on Advanced Forex Strategies.
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