Evening Traders, crazy week last week and hope everyone kept to good risk management as some big and unexpected moves. Expecting some more of the same this week, as we've seen with the Yen pairs today, the Yen taking a big hit and Gold as well falling off a cliff. Setting up for another interesting one.
So moving onto AUDCAD; On the Daily and 4 Hourly, we have now had a higher low and a Higher High formed, we are looking for the next wave in the cycle which would be the next higher low at a key fib level, to once again push to the upside, targeting previous highs and then onto our fib extensions.
Excuse the messy chart I've tried to highlight the points I want to pick out, as always this may not pan out but one I'm keeping an eye on.
Have a good week.
So moving onto AUDCAD; On the Daily and 4 Hourly, we have now had a higher low and a Higher High formed, we are looking for the next wave in the cycle which would be the next higher low at a key fib level, to once again push to the upside, targeting previous highs and then onto our fib extensions.
Excuse the messy chart I've tried to highlight the points I want to pick out, as always this may not pan out but one I'm keeping an eye on.
Have a good week.