USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
AUD/CAD rising inside intermediate impulse wave (3)
2019-11-11 • Updated
- AUD/CAD rising inside intermediate impulse wave (3)
- Next buy target 0.9950
AUD/CAD continues to rise inside the intermediate impulse wave (3), which previously broke the key resistance level 0.9850 (which reversed the price with the daily Japanese candlestick reversal pattern Evening Star earlier in May, as can be seen below). The breakout of this resistance level accelerated the active impulse wave (3). AUD/CAD is expected to rise further toward the next buy target at the next resistance level 0.9950 (former resistance from the end of March).
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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