Look at that line! Is this why everyone is calling for $48-$60?! With all the ups and downs today, I was REALLY surprised to see this! I'm long right now and panicked a few times today when I though the bottom was falling out. Seeing this made me feel MUCH better. But......well.....we'll see!
Of course head on ( NFP )
Bears might be stronger near-term !!!!!
Gartley pattern has formed 1hr chart,
Retracements that yield the most reliable reversals are the .618 at the B point and the .786 at the D point (PRZ)
Breaking above 1.11 would cancel the bearish bias and the pair would probably rise to 1.1130..
Let's see interesting situation.!!!!!!!!!!!
It looks like we're testing the new resistance point of 4.20s w/ highs around 4.71 and lows around 4.10. I feel that the new break out point will be at 4.61 where we will enter new highs. Going to 5?
E3 stars on June 14-16. Break out before E3? Lets find out.
One more push down on the 60mins by the bears before the bulls start to take over can't be ruled out. However, if the bears are too strong, then buying the Bat pattern completion is not a bad idea. Overall, my long term view on the AUDCAD is to the upside.
Thank You for your support. Happy Trading.
It seem like after Earnings yesterday MSFT is going to open between 54$ and 55$. It's going to be a retest gap. So I would wait for a Retest next week an then sell a Bull-Put-Spread in the purple area with a time of 1 to 2 weeks.