FxPro - Analytics

FxPro

761.75 6.25/10
89% of positive reviews
Real

AUDCAD Wave Analysis – 02 April, 2019

AUDCAD Wave Analysis – 02 April, 2019
 
  • AUDCAD reversed from resistance level 0.8700
  • Likely to fall to 0.8500

AUDCAD recently reversed down from the pivotal resistance level 0.8700 (former strong support from March), standing near the 61.8% Fibonacci retracement level of the previous sharp downward impulse wave (3).

The downward reversal from the resistance level 0.8700 created the daily Japanese candlesticks reversal pattern Bearish Engulfing –which was followed by the daily Shooting Star.

Give the overriding daily downtrend – AUDCAD is likely to fall further toward the next round support level 0.8500.

AUDCAD reversed from resistance level 0.8700 Likely to fall to 0.8500


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree