Looks like AUDCAD has finally found a bottom at the 261.8% Fib, which happens to be the end of the A wave.
We had a nice uptrend from 28th of January until the 5th of April, where it topped out and formed a rising wedge.
It then retraced into the area of the 4th wave from 16th of March. I now expect price to run up into the green box, before it starts retracing back down. It's even possible that AUDCAD will move past the 50% Fib and top out at around 61.8% or even the 67% fib.
We had a nice uptrend from 28th of January until the 5th of April, where it topped out and formed a rising wedge.
It then retraced into the area of the 4th wave from 16th of March. I now expect price to run up into the green box, before it starts retracing back down. It's even possible that AUDCAD will move past the 50% Fib and top out at around 61.8% or even the 67% fib.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.