its shows the bullish moves and 1 d last candle show the reversl move and it will touch the support zone and then will be move on bullish move it definetly hit our targrt
Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.96430).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDCAD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...
Irrespective whether its an LD or an ED . Wave 2 divides the 5 wave structure in a perfect Fibonacci divider . Its ultimate target seems to be 0.92438. T1 should be 0.94587. Regards
We're in a large WXY structure and in process to start Y with another (WXY). X turned out as an ABC running flat. C hit perfectly the 100% extension of A. Now our next target is the .618 extension of W which is the most likely target and will complete (W).
Midterm forecast:
While the price is below the resistance 0.9990, beginning of downtrend is expected.
We make sure when the support at 0.9650 breaks.
If the resistance at 0.9990 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 0.9899 on 2021-01-06 and the...
AUDCAD is looking for a great short opportunity for this week in fx market. Has the chance for more move to the downside. AUD seems weak across the correlation board. Along with the news of HIA New Home Sales (MoM) which has some negative results.
Price rallied in the NY SESSION on 5th February 2021 with the noticeable volume. And we are expected that price will pull back to yellow zone that also coincides with 38.2 fib level. The reason behind this huge volume being the price tested longterm trend line on Daily chart. After the pullback, we will be closely looking at the Price action in the YELLOW marked...
