Price failed at 1.0050 resistance level today, was rejected to form a bearish shooting star. in addition to a potential bearish rising wedge in play. Another possible short here unless price decisively break above 1.0050 resistance
yep all CAD pairs appear to have the same setup and divergence. lets see how it plays out. Bear in mind CAD pairs are in long term uptrends so we may not get a big rejection.
nihal.bhat.7
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except AUDCAD(downtrend due to AUD weak). maybe thats why u chose it for a potential short?. EURCAD GBPCAD USDCAD the one in uptrends i meant.
Zeheart
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Hi, I do agree that most of CAD are in uptrending, therefore I also dun expect huge down move for the time being.. we shall see how it goes to determine further.. =)
nihal.bhat.7
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agreed, may not be much pippage in the move. lets see what market does.
Zeheart
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but a small move in daily tf.. could yield quite some pips too.. =) Happy pippings =)
nihal.bhat.7
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thats true not much about pippage on these, its all about % move.
Zeheart
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Agree with your analysis.. =) Good Pips to you!
Aqua-Life
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at 1.0031 there was a bearsih gartley completion also. X at 1.0047 on the 10-28-13.
skmr
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This could be the point of reversal for this pair, 995x may give short term support but doubtful as 4hr bearish divergence may come into play. Tuesday we have news release for AUD.