Bullish Divergence on AUDCAD 1h

There's a bullish Divergence of Price vs. Momentum on the 1h AUDCAD chart.
Price might go up to the resistance line at 0.90542

Kommentar:

Price almost hit the target (0.90542) a few hours ago:

- price went up to 0.90520 !
Sure - if we did set the target more conservative, we already would have made some nice pips, but I'm still optimistic that the target will be reached - and maybe price will rise even higher!
Looking at the daily chart (and comparing it to the 1h chart) it looks like a double bottom with the neckline at the area of our former target:

Right around the second bottom there was a strong bullish divergence - and price went up after that.
MACD doesn't indicate a reversal, so the price might break the neckline and will continue to rise.

Trade geschlossen: Ziel wurde erreicht:

The Profit target was hit on 9/11 - but it will be interesting to see, what is about to happen next ...