EUR/JPY broke key support level 131…
AUD/CAD reached buy target 1.0000
- AUD/CAD reached buy target 1.0000
- Next sell target - 0.9890
AUD/CAD recently sharply reversed down from the resistance area lying between the parity (previous buy target), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from last May. AUD/CAD is expected to fall further toward the next sell target at the next support level 0.9890 (former resistance level from September and November).
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.