AUD/USD in overall bearish trend. Approaching key resistance zone between 0.77320 and 0.77600. Think that bears will do their upmost to defend this zone again.
Short Entry- 0.77320
Target- Close to trendline
USD/CAD sitting on support on Daily time frame. It overshot support due to very strong selling pressure, in my opinion. If price clears it's way back above 1.30000 level I shall be looking to initiate long position. Currently price is in with trend corrective structure.
If price breaks 1.09260 level will be looking to initiate long position. Stop below rejection area.Will be targeting next daily resistance area.
Very impulsive buying followed by shallow corrective move, price might just break out and never look back.
Long Term- Bearish
Medium Term- Range (both shorts and longs favorable)
Short Term- Bullish
Entering on raw reversal level. Stop (around 40 pips) goes just below most recent rejection area.
Targeting medium term range's top.
Now waiting for confirmation signal.