A symmetrical triangle is forming as price consolidates around the .9875 area. Unemployment numbers released at 9:30ET USA may move price outside the triangle and define the start of a trend.
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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In my view we're currently in an impulse wave C or 3rd wave==this thing can fall further down :p.
For sellers:
sl @ 0.9850 (500pip)
short @ 0.9350
TP @ 0.9050 (300pip)
For buyers :)
Golden buy==0.9013 (major support level)
SL @ 0.8500
TP @ 0.9500
Well price seems it formed a double top around 0.9744....In my veiw this price can break around the 61.8 Fib area....
Conclusion==short it baby :p....
Short @ 0.9616
TP 1 @ 0.9577 (50% fib)
TP 2 @ 0.9540 (max target in my view)
SL @ 0.9800
It's called a symmetrical triangle, but you can also call it a Bullish Pennant :)...
Buy @ 0.9700
SL @ 0.9600
TP 1 @ 0.9740
TP 2 @ 0.9780 (that's if your extra lucky :p)
Well it looks overbought .....So i would short it below the senkou span b border (which is acting like a temp support area).....Once we go below it, there is probability that the price will come down to support area E.
Short @ 0.9552
TP 1 0.9516
TP 2 @ 0.9501
TP 3 @ 0.9470
SL @ 0.9700
Key suport area tested 3 times and now looking for to Buy after crossing 100MA on 5 TF. Pretty good TP and SL. It wont kick my ass since this is a low risk trade.
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.
