USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
AUD/CAD falling inside impulse waves (iii) and 3
2019-11-11 • Updated
- AUD/CAD falling inside impulse waves (iii) and 3
- Next sell target - 0.9800
AUD/CAD has been falling in the last few trading sessions inside the minor impulse wave (iii) – which belongs to the impulse 3 from the start of August. Impulse 3 started when the pair reversed down from the resistance zone lying between the resistance level 1.0050 (which has reversed the price numerous times from July), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from May. AUD/CAD is expected to fall to next sell target at the next support level 0.9800.
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
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