USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
AUD/CAD falling inside impulse waves 3 and (C)
2019-11-11 • Updated
- AUD/CAD falling inside impulse waves 3 and (C)
- Next sell target - 0.9800
AUD/CAD continues to fall inside the minor impulse wave (iii) – which started earlier from the resistance zone lying at the intersection of the resistance trendline of the daily down channel from May and the parity. The latest downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Evening Star. AUD/CAD is expected to fall further in the active impulse waves 3 and (C) toward next sell target at the next support level 0.9800.
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All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...