EUR/JPY broke key support level 131…
AUD/CAD reached sell target 0.9770
- AUD/CAD reached sell target 0.9770
- Next sell target - 0.9700
AUD/CAD has been under strong bearish pressure lately – following the earlier breakout of the key support level 0.9770 (which reversed the pair sharply in the middle of October and which was set as the sell target in our previous forecast for this currency pair). AUD/CAD is expected to fall further toward the next sell target at the next powerful support level 0.9700 (which revered the previous multiple waves from the middle of September, as can be seen below).
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.