Lower high retest of resistance and rejection... Simple, Standard stuff.
Yes, I know, I have AUDUSD longs placed - with good reason. AUDUSD is a clear uptrend structure on daily whereas AUDCAD is a downtrend structure on H4.
We can infer that CAD is very strong and USD is bearish.
If we also examine USDCAD we can see there is a lot of bearish momentum on the daily.
TRADING IDEA -- NOT AN INVESTMENT OPPORTUNITY!
Yes, I know, I have AUDUSD longs placed - with good reason. AUDUSD is a clear uptrend structure on daily whereas AUDCAD is a downtrend structure on H4.
We can infer that CAD is very strong and USD is bearish.
If we also examine USDCAD we can see there is a lot of bearish momentum on the daily.
TRADING IDEA -- NOT AN INVESTMENT OPPORTUNITY!