Daily Chart Explanation:
- Price is against the Weekly Ascending Trendline.
- Price is on a Micro Ascending Trendline.
- Bearish Divergence on MACD.
- If price breaks the Ascending Channel at 6740, potential to move down towards the Support Zone at 6400 and, then, to the Bottom of the Ascending Trendline at 5620.
Our Weekly View support this idea. Check it...
After formation of CRAB pattern the priceline of AUDCAD has formed cypher pattern on 12hr chart.
Now the price action has entered in potential reversal zone and from here it will hit the sell targets soon insha Allah.
The targets are:
Buy between: 0.91372 to 0.91090
Sell between: 0.91594 to 0.92128
Atif Akbar (moon333)
Qantas ASX:QAN is running out of room in what seems like a descending triangle. If there's no break to the upside, expect more downward pressure to $4.22 in the coming months - long term outlook.
Due to the uncertainty of the market - trade wars and oil prices - a breakout in the coming weeks should also be taken with a pinch of salt as it might be a bull trap...
AUDCAD IS IN A GOOD SUPPORT LEVEL.
IF YOU CAN SEE IN OCT 18 MADE THE SAME PATTERN IN THE SAME ZONE. SO I'M EXPECTING A UPTREND FOR THE NEXT WEEKS :)
GOOD R:R TRADE.
REMEMBER DON'T RISK MORE THAN 2% OF YOUR ACCOUNT.
Aussie makes a very nice classic move - after breakdown it made a pullback (retest) and now it could drop
again to complete the entire correction and hit either 61.8% (.6956) or 78.6% (.6863) Fibonacci retracement levels.
That's why AUDNZD is in the red (see related)
After a long accumulation range which start in 2016, the Aussie moved higher until February 2018, then selling off into the buy zone at the end of 2018.
A nice large pin-bar on new years eve saw stops being run out , since then we have seen 2 buy pivots. Should see the Aussie trend higher, breaking the 2018 high, as the gold price moves in a strong up trend.
I am so glad to be back posting after more then a year. My technical's are bleeding that its oversold but due to the fundamental for the Aussie being so poor keep a tight look on this but from what I can see its a great R:R. The technical side looks great. We haven't seen AUD/CHF at this level since 2016 so hopefully that level will be supported and expect a rally...
Next probably motions of AUD index has been shown by neowave counting method... The first TP is 101 unit in the shape of A wave of triangle.... So, in the long time it is practical to rising some symbols such as #AUDJPY