AUDCAD is approaching its resistance at 0.9432 (50% Fibonacci retracement, horizontal overlap resistance) where it may reverse down to its support at 0.9433 (50% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal may occur.
AUDCAD is approaching our first resistance at 0.9534 (horizontal pullback resistance, 50% fibonacci retracement, 100% fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 0.9439 (horizontal swing low support, 38.2% Fibonacci retracement). RSI (55,5,3) is also approaching resistance where we might see a...
Thursday’s ISM Manufacturing PMI and prices both decrease beyond expectations. Non-Farm Employment Change jumped by 312,000, Average Hourly Earnings rose 0.4% and Unemployment Rate slightly increased to 3.9% in December. Previous months' Non- Farm numbers were revised higher by 58,000. Overall, the labour market remains strong. Next week outlook: Trade talk...
AUDCAD is approaching its resistance at 0.9490 (38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse to its support at 0.9409 (horizontal swing low support). Stochastic (21, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
A short position on AUDCAD. Break of Neckline on Head and Shoulder's pattern and looking for price action to move to the downside.
AUDCAD is approaching its resistance at 0.9629 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it may reverse down to its support at 0.95643 (Horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal may occur.
AUDCAD bounced off its support at 0.9562 (78.6% Fibonacci retracement , horizontal swing low) where it could potentially rise further to its resistance at 0.9673 (50% Fibonacci retracement , horizontal overlap resistance). Stochastic (55, 5, 3) bounced off its support at 2% where a further rise could occur.
Low volume is likely to continue in the US Dollar Index until coming Wednesday, the day after New year. Friday Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate data might bring some volatility in the market. The US Dollar Index chart did not change last week ranging between 12300 & 12260 levels. The long-term constructive for bull, till...
ASX bounced nicely off our first support level at 5390 (61.8% fibonacci extension , horizontal swing low support) where a further rise might occur above this level pushing price up to our major resistance at 5861 (50% fibonacci retracement , Horizontal swing high resistance). Stochastic (21,5,3) is also bounced off support where we might see a further...
AUDCAD is approaching its support at 0.9562 (78.6% Fibonacci retracement , horizontal swing low) where it could potentially bounce to its resistance at 0.9673 (50% Fibonacci retracement , horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce could occur.
CAD is still bearish, the chart looks good to me, I currently long aud/cad.
AUDCAD is approaching its support at 0.9562 (78.6% Fibonacci retracement, horizontal swing low) where it could potentially bounce to its resistance at 0.9673 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce could occur.
GBPAUD is approaching its resistance at 1.7988 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse to its support at 1.7731 (61.8% Fibonacci extension, 38.2% Fibonacci retracement , horizontal pullback support). Stochastic (89, 5, 3) is approaching its resistance at 99% where a...
There is no surprise that Federal Reserve rate hike, US Dollar Index rallied after. Investor were looking for Fed Chair Powell dovish tone but his comments came out optimistic. The dollar rose despite the fact that 10-year Treasury yields dropped. Small adjustment in the statement on lowered growth and inflation forecast, these changes were not significant to push...
The AUDUSD pair staged an impressive rally yesterday printing highs at 0.7148 levels before pulling back lower. Please note that in this process, an engulfing bullish candlestick pattern was produced on the 4H chart presented here, indicating a potential reversal. Looking at the wave counts, the Aussie Dollar had produced an impulse rally between 0.7020 and 0.7340...
Trading mindset: 1. Use 1% risk 2. 1:2 risk/reward 3. Wait for update to close manual! In longer term it pays off very well and keeps your capital safe! Breakeven: If you are correct 33% of the time, your capital is safe. Adopt this mindset in order to be successful trader.
Past week, Producer Price Indexes came out better than expected, U.S. consumer prices unchanged and U.S. Retail Sales previous data are revised upwards. Leading to a stronger US Dollars. Upcoming FOMC Economic Projections, Statement, interest rates and Press Conference 30 mins after data release. The Federal Reserve, is highly likely to hike interest rates for...
AUDCAD is approaching its support at 0.9573 (76.4% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 0.9653 (61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce could occur.