Forex Chart – Apr 28, 2016: NZDCAD, CADJPY, AUDCAD


I’m still watching this pair just like I said here. Price is on its way to retest the level that I marked as the recent resistance level. If price can hold and forms bearish signal on that level, it would be good open a short trade.

NZDCAD daily chart



I’m also still watching this pair just like I said earlier this week. Looks like the level that I marked as the important daily support can’t hold. Price moved lower and broke that level. In my opinion, this level now acted as the flip level, wherein we can look for an opportunity to open the trade position, whether short or long. In this case, with the recent movement that happened, I will start looking for the short trade if the price could form bearish signal.

CADJPY daily chart


CADJPY 4-hour chart



The AUDCAD has been moving lower and broke the daily support level. Price then quickly retrace and retest the old support/ new resistance level. What I’m looking for right now is an opportunity to go short around the daily level. If we look closely the 4-hour chart below, the price already formed a 4-hour pin bar but the size of the pin bar and the place where the pin bar closed is not convincing enough for me. So for now, I will wait for an obvious signal.

AUDCAD daily chart


AUDCAD 4-hour chart



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