EUR/JPY broke key support level 131…
AUD/CAD falling inside impulse waves 3 and (C)
- AUD/CAD falling inside impulse waves 3 and (C)
- Next sell target - 0.9800
AUD/CAD continues to fall inside the minor impulse wave (iii) – which started earlier from the resistance zone lying at the intersection of the resistance trendline of the daily down channel from May and the parity. The latest downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Evening Star. AUD/CAD is expected to fall further in the active impulse waves 3 and (C) toward next sell target at the next support level 0.9800.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.