I have decided to keep an online journal in addition to my written journal, these are my own opinions, feel free to comment.
AUDCAD opportunities for next week.
Daily price action rejecting off the 50 EMA, shooting star formation in play, also wick rejection off daily 61.8% fib.
After stronger than expected Canadian unempolyment numbers. A break below 0.8950 level could lead to further downside moves into previous swing low and monthly support level, and beyond to -27% fib and -61.8% fib and monthly support level.
Will watch 4 hour time frame for a break and retest of 0.8950 to look for short opportunites.
AUDCAD opportunities for next week.
Daily price action rejecting off the 50 EMA, shooting star formation in play, also wick rejection off daily 61.8% fib.
After stronger than expected Canadian unempolyment numbers. A break below 0.8950 level could lead to further downside moves into previous swing low and monthly support level, and beyond to -27% fib and -61.8% fib and monthly support level.
Will watch 4 hour time frame for a break and retest of 0.8950 to look for short opportunites.