A review of the most interesting trading opportunities is a daily cycle of analyzes under the patronage of the FX88 broker, where we present the most interesting possible Price Action setups.
Risk notice: Transactions on Forex and CFDs can lead to the loss of all invested capital. Please note that FX88 is not responsible for the preparation of materials for this article or any other materials related to this article. The materials from the article are for informational purposes only and the information contained therein is not an investment advice and should not be interpreted as such.
AUDCAD
As a result of the ongoing since mid-March, this year declines, the AUDCAD has reached the area of quite significant support, where the demand reaction appeared on Wednesday. Permanent rejection of this zone could open the way for at least an upward correction.
CADJPY
The bullish scenario at AUDCAD also supports the current situation on the CADJPY pair, where the price has been moving south again for three days. If this tendency is continued, we could expect to re-test the orange support zone or even the 80.70 support area in the near future.
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EURAUD
The current situation on the EURAUD currency pair is also very interesting, where, as a result of recent declines, the rate reached the area in the vicinity of the lower limit of current consolidation. Permanent rejection of this support could open the way to new increases. If, however, the zone is defeated, potential drops could reach levels around 1.5630 or even 1.5220.
FX88 is a broker regulated by CySEC. The broker provides competitive spreads and prices of currency pairs, metal and CFD. In addition, it provides the latest trading tools that enable investors to take advantage of the amazing opportunities on the market.
