AUDCAD is probably my favourite set up for this week. Clear levels, clear break and hopefully a clear retest. Watch for price to move up correctively and enter on break of correction.
See links below as to why we're looking for AUD weakness.
Price is finding at least temporary Support around the 0.9650 level, which I would like to see it break before going lower. I've put in some tentative Fibonacci projections of Impulse Wave 1 and Corrective Wave 2, looking to see it make 127.2% and, if continuing strong, down to 161.8% level.
WicktatorFX
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@loudon3, great spot on that previous level of resistance! We just need to break that now and then we can get another entry on the retest. Your charts are coming along beautifully!
loudon3
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@Wicktator, Thanks - I'm using your mark-ups as my model, and using them as a learning exercise so that I can understand the thinking behind the levels. Putting them into practice, I am seeing nice profits, so all is good.