GBPAUDLooking at GBPAUD, we have seen a break of the high to the left whilst respecting daily market structure as indicated by the first arrow at the 0 fib. From this, it would seem appropriate for the pair to correct back to one of the Fibonacci retracement levels perhaps the 50/61.8 to gather any final orders that may reside there before continuing to the upside.
Aidanfucile
AUDUSD - FULL ANALYSIS BREAKDOWN !!Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on AUDUSD, if you any questions on the pair let me know in the comment section below.
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USDCADUSDCAD has pushed down to where I am looking to enter a long position. However, the trade has not been enter yet as we do not have the correct conformations.
Price reaching our Fibonacci retracement levels is only half of our analysis. We need to be looking for price to reject from these levels and begin to turn back over, an example of this could be another double bottom or a candlestick formation or an indicator at our fib level.
Once we have further confirmations we can then look to enter the trade. Until we have these confirmations price will just as likely keep pushing down.
USDCADUSDCAD has pushed down a little further than expected and suggested in one of my previous posts. It has fallen past the neckline of the "double bottom" and is now sitting at a key level of support. If the pair is to break below this level, then we can expect to see the pair fall further, perhaps to a region near Augusts monthly low.