GBPCAD is currently at the 5 months low resistance which functions as a neckline.
I have a h1 channel macd setup and should price plunge below yesterday low, it will signify the completion of a slanted hns and a completion of a flush of 4 weeks high.
Then it may be the start of a nice ride down.
This is the 400pips inverted head and shoulders pattern on the daily chart. The neckline support is around 0.9070-80. Look to enter long at neckline and 50% FIB retracement.
Long AUDUSD 0.9070-80
I see nice Head&Shoulders pattern in USD/CAD with neckline at 1.09030. Moving averages curling down means that sellers keep preassure and control on price. Break below neckline which is our support could lead to further follow through. My intermidiate target is 1.08600 close to support zone.
Stop could be placed above 50 MA which follows price nicely.
EURUSD is a very mechanical pair, reacting to macroeconomic situation and sharp on political statement.
Baring in mind the situation of indicators and the picture, we may be on the eve of a formation of a double bottom.
Political situation in Europe, recent statements of ECB President Draghi , statements that had an effect on the market
but on a long run, no one...