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AUDCAD Setting Up for a 1,000 Pip Move?

Short
FOREXCOM:AUDCAD   Australian Dollar/Canadian Dollar
Hey hey.

My name is Kaci.

In this video, I complete a top down analysis of AUDCAD .

I take a bird's eye view of the longer term move in the market.

In this video, I use fibonacci retracement and extension tool to help me determine my bias.



Right now, I believe we are in a down retracement and price on the weekly has not hit one of our key levels, 38.2, 50. or 61.8.

However, price has hit an extension to the downside off of a shallow retracement.

I believe we may see a short term move to the upside before a longer term move to the downside.

What's your bias on this pair?