AUDUSD is nearing the PRZ of a bearish shark in a S/R zone that is confluent with the a bearish Wolfe Wave setup. 200 EMA and SMA may add resistance in this area. To add to bearish bias, this pair has been in a strong downtrend and this would give us an opportunity to ride it down to the .886 fib if price should reach the PRZ. Entry is placed at the shark...
Although NZDCAD has not completed a technically valid Gartley pattern since the C point has exceeded its .886 conventional limit, the pair has still found support in the .786XA area. In addition to this key retracement level, there is confluence in this area between 1.272AB=CD and the 1.272 projection of BC. To add to the bullish bias, a missed monthly pivot...
GBPCAD has satisfied the conditions of a bearish 5-0 pattern at the 50% retracement of the CD leg. Missed monthly pivots for June and July of 2015 will likely help drag the pair down to the target area. There is tight zone of confluency around 1.978 shared by .786 XO, 1.272BC projection, and .786BC=DE, which makes for a nice area to take profit. The next level...
After a sharp drop/ downtrend of AUDCAD a bearish pennant has formed on 4h chart. The price is consolidating before I believe it will breakout on Monday morning and test the daily resistance from December at about 0.94. I believe this will be broken and price to continue the weekly/ monthly downtrend that is forming and looking at the current forecast for the...