Pranav_Shandilya

7 more months of AUDCAD bearishness

FX:AUDCAD   Australian Dollar/Canadian Dollar
Monthly view of AUDCAD

1. Wave A is equal to wave C which reaffirms that fact that it should either be a correction wave set or the wave of a wave 1. (Price 1.07679)

2. Both wave A and C form diagonals.

3. In the wave 'b' of wave (i) of 2, the high (1.0352) had a direct fibonacci relationship with the starting point of wave 2 which makes wave 'b' a subwave of wave 2.

4. Wave C of 2 appears to be forming an expanding diagonal which faces severe resistance at levels 0.9381 and 0.9152.

Final Opinion : Since it will take roughly 7-11 candlesticks to get to the resistance levels, it will be wise to maintain a bearish outlook for this currency pair till then.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out