$GBP/CAD is falling to a confluence of support with 50 MA, 38.2 retracement and daily cloud support. We can see the pair make a decent bounce here or resume primary trend to new high.
In 1 hour, Canada will issue employment report. A worse than expected result (possible with layoff from oil drop effect) could be the catalyst to make it rally.
Like to long around...
GBP/CAD Daily is bullish with 50 MA > 100 MA > 200 MA, and pair is above daily Ichimoku Cloud.
The pair looks like it could do one more pullback towards around 1.87 which is near the daily cloud and 50 MA, and also equal leg of triple three Elliott Wave structure. From there, I like it to the upside at least 50 back of decline from 1.96 if not continue primary...
In a similar way to CAD/JPY, AUD/JPY looks ready to rollover. It is breaking the wedge, touching 50 MA and reversing lower.
50 MA < 100 MA < 200 MA which is bearish in daily time frame.
It's also below daily Ichimoku cloud, and trying to retest the cloud, but reverse lower before touching it.
Pair should at least test 50 back at 91.8, but I suspect it can make...
$CAD/JPY looks ready to rollover. It is ideally touching the 50 MA or daily Ichimoku cloud, but it looks like it runs out of time. If the pair breaks the trend line support (which is likely early next week), then it gives further confirmation to sell. The pair should at least target 50 back at 94.15 if not resuming to new low.
From reading members' post, 90% of members post AB=CD, 3 drive, and harmonics topping pattern and want to short this pair.
But friends, the trend is your friend, and always look at higher time frame. We can see this pair hit 38.2 fib, pullback to 23.6 fib, and then break to new high. The next target is logically 50 fib at 2.07. We can also see the pair this week...
