AUD is at a 10 year low and being reported on in the mainstream media.
This setup is looking for a reversal with a favorably skewed price target / stop loss.
Charts below include;
Monthly
Top of the Bollinger Band
RSI peak
Regression trend
Weekly
Balance of Power divergence
Balance of Power downtrend
Daily
Top of regression channel
Daily
...
CADJPY looks bearish after reaching daily resistance and monthly resistance,
im expecting price to go short at that point,,look for entry point in shorter time frames
CXY broke out of its major support at 6.9681 where it could potentially fall further to its support at 6.9491 (50% Fibonacci retracement, horizontal overlap support).
Here we are in a similar waiting position... A retest and confirmation of support S1 is in order before making final trade determination. Note again the moving average crossover, which points in a downward direction.
cad/aud have been holding support for some time now and ascending trendline + xabcd pattern has confirmed that trend as well. This is a long term goal to reach roughly 400 pips but smaller take profits are listed on this as well.
CXY is approaching our first resistance at 6.9990 (horizontal overlap resistance, 78.6% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6.9634 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support).
Stochastic is also approaching...
CXY is approaching our first resistance where we might see a corresponding drop in price. Stochastic is also approaching resistance where we might see a corresponding drop in price.
CXY is approaching our first resistance at 7.0544 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6.9899 (50% Fibonacci retracement, horizontal overlap support).
Stochastic is also approaching resistance where we might see a...
CXY is approaching our first resistance at 7.0544 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6.9899 (50% Fibonacci retracement, horizontal overlap support).
Stochastic is also approaching resistance where we might see a...
On the cad/aud, price seems to have retested previous support while also being in an uptrend.
Diving into the 4hr chart, I see price has created a falling wedge.
There are two options on entry:
1) either wait for price to retest support zone to enter.
2) Wait for price to break out of falling wedge, break resistance zone than retest it as support...
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