Canadian Dollar Currency Strength: Very Strong (positive order flow)
A symmetrical triangle is forming as price consolidates around the .9875 area. Unemployment numbers released at 9:30ET USA may move price outside the triangle and define the start of a trend.
Prices broke KUMO as well as LS. Strong signal to sell the pair. S1 and S2 as shown above. Stop is placed on the extension of KS.
Watch this develop as a good opportunity could be presenting itself. Either we reverse after this most recent Bearish Butterfly completion or we go higher and complete the Bearish Crab. Either way I hope you take a position once a clear cut signal is shown. Good luck
In the one corner is the currency of copper - the Aussie! In the opposing corner is the currency of oil - the Loonie! Who will win? Which force is stronger: the China slowdown or the oil glut? This race to the bottom can only have one winner! Read the rest of the post at www.sealionllc.com
Key suport area tested 3 times and now looking for to Buy after crossing 100MA on 5 TF. Pretty good TP and SL. It wont kick my ass since this is a low risk trade.
AUD/CAD continues to fall in a bullish descending triangle that will ultimately result in a sharp move to the upside for AUD/CAD. Within this triangle price is now moving against the trend toward the .97 support/resistance level where price should reverse and head lower. Look for resistance to hold and for the TSI to reverse below its signal lines.