FX.co ★ AUDCAD

THE CURRENCY PAIR AUD-CAD The configuration of the Heiken Ashi candles, together with the signals of the TMA (triangular moving average) and RSI indicators for the selected currency pair or instrument, makes it possible to conclude that the turn of bullish sentiment is quite expected in the market. Heiken Ashi candles, unlike ordinary Japanese candles, show a smoothed and averaged price value, which significantly simplifies technical analysis and, accordingly, increases the accuracy of trading decisions. The TMA channel indicator (lines of red, blue, and yellow colors) builds support and resistance lines based on double-smoothed moving averages and clearly demonstrates the current boundaries of the instrument’s movement. As an additional transaction filtering oscillator that shows positive results in combination with Heiken Ashi, we use the RSI basement indicator. On the chart of the instrument being studied at the moment, it can be noted that the candles have changed their color to blue and thereby emphasize the priority power of the bullish driver. The price crossed the lower border of the channel (red dotted line) and, having bounced off the minimum point, headed again to its middle line (yellow dotted line). At the same time, the RSI oscillator additionally confirms the buy signal since its curve is currently directed upward and is not located near the overbought level. In this regard, we can draw the logical conclusion that there is a good moment to conclude a profitable long-purchase transaction at the best prices, with the goal of market quotes reaching the upper border of the channel (blue dotted line), located at the price level of 0.90206.