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aceofswords
Jul 13, 2014 10:46 AM

LONG AUD/CAD AFTER initial pullback on/frm Asia open [Sun 13 07] Long

Australian Dollar/Canadian DollarFXCM

Description

Long targets based on daily chart : TP1=101059. should see some 'minor' negative PA at this level, but Market will be aiming for a test of 100Ma, [black line] currently converging with/sitting on 0.236fib level [fib drawn from the
up-move that began on 2nd Jan 2014] Current price has found resistance at LONGER TERM 0.236 fib level drawn from the entire up-move that began on 1st Aug 2013. TP2=1.01296 [caution advised, as price may be achieved with a sudden 'spike' up and/or 100Ma may move lower] ;0)
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