AUDCAD Failed to continue lower, reversal bullish price action

Hi traders:

Closely looking at AUDCAD for the bullish reversal price action.

We can see after a strong bearish impulse down from my previous outlook, price begin to form a parallel channel structure.

Wee see price manage to form one more correction and push down, but failed to continue lower with any continuation corrections.

Instead, a false breakdown, and a strong bullish reversal impulse phase start on the lower time frame.

This is good indication that the bearish momentum is exhausted, and the price form LTF bullish price action, could start off the reversal in the next few days.

Latest price did form a Inverse Head and Shoulder, and once right should completes, and expect the bullish impulse phrase to continue to the next swing highs.

Thank you

Kommentar:

Watching for bullish correction
next week for possible entry