JosephMemphis
Short

Potential Weakness in AUD/CAD - Daily

FX:AUDCAD   Australian Dollar/Canadian Dollar
48 0 4
The purpose of this analysis is to propose a general BIAS for this security.

AUD/CAD             is now up against an internal retracement. A down wave from March 9th             to May 26th has retraced in the region of 50-61.8%. The largest anticipated move in this security is to the down side on the DAILY, meaning LONG positions are likely to suffer the greatest. non-commercial activity is currently SELLING into any strength.
Comment: 0.9969 on AUD/CAD is the "final defence line" for short sellers. This level was established on July the 12th 2016. Long positions against this 0.9969 zone will be met aggressively by the bears. The SHORT scenario on AUD/CAD is still valide.
Trade active: Resistance zone became support. Please not that we broke above our "red resistance zone" BUT this security did NOT fly.. The patient ones shall be rewarded on this one. I am holding my SHORT.
Trade closed manually: Closing this trade on a small loss! unclear data ahead
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