Today we look at another forex chart, the Aussie Dollar AUD/USD.
It would seem like the bulls are large and in charge the past couple of weeks and gunning for 0.68 - 0.69 area. But not so fast my friends...
Because on the daily chart price is now tip toeing as we like to call it through a change control zone. So what exactly does that mean?
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A frequently asked question we get so often is how do we determine a potential entry level where there are multiple levels of interest within a particular zone or area.
So here is a brief 4 minute video on the Anatomy of a Potential Entry on USD/CAD for June 8, 2020.
With USMCA replacing NAFTA it leaves us to wonder what, if any, impact it could have on USD/CAD price action...
Could 2020 be the beginning of a break out or will price action be more of the same? Same being somewhat range bound 14-18 months with neither the bulls nor bears really in charge.