Watch this develop as a good opportunity could be presenting itself. Either we reverse after this most recent Bearish Butterfly completion or we go higher and complete the Bearish Crab. Either way I hope you take a position once a clear cut signal is shown. Good luck
In the one corner is the currency of copper - the Aussie! In the opposing corner is the currency of oil - the Loonie! Who will win? Which force is stronger: the China slowdown or the oil glut? This race to the bottom can only have one winner!
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AUD/CAD continues to fall in a bullish descending triangle that will ultimately result in a sharp move to the upside for AUD/CAD. Within this triangle price is now moving against the trend toward the .97 support/resistance level where price should reverse and head lower. Look for resistance to hold and for the TSI to reverse below its signal lines.