Thread: AUD/USD and USD/CAD analysis

The USD/CAD is now right near the floor, at the level of 1.3119, but I'm sure it will go up, since the support is pretty strong to be broken.

The AUD/USD chart is one of the best places for scalpers, but still the patient bears also can earn a lot of pips there.

The most profitable strategy on this market last week was scalping. I think next week will be the same situation.

Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7463 or 0.7506.

Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7331.

Long entry after the next bullish price action rejection following a first touch of 1.3521.

Short entry after the next bearish price action rejection following a first touch of 1.3671.

There is a long-term bullish trend, but the medium-term trend is even more bearish, with the price continuing to make lower lows and lower highs.