rfxsignals October 31, 2019 No Comments
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31.10.2019

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after completing a short-term pullback, the pair continues its ascending tendency and has already broken 38.2% fibo. The next targets may be 50.0% and 61.8% fibo at 0.6983 and 0.7956 respectively. At the same time, one should pay attention to the divergence on MACD, which may indicate a reverse after the instrument reaches the closest targets.

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, after finishing a quick rising impulse, AUDUSD has entered the post-correctional extension area between 138.2% and 161.8% fibo at 0.6911 and 0.6929 respectively. in the short-term, the price4 may start a new pullback, which may later be followed by further growth towards mid-term targets. The support is at 0.6809.

AUDUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD has corrected the previous descending wave with a quick ascending impulse. After reaching 50.0% fibo, the pair is forming a pullback. Possibly, the next rising impulse may reach 61.8% and 76.0% fibo at 1.3230 and 1.3273 respectively. If the price breaks the support at 1.3042, the instrument may continue the bearish trend towards the long-term low at 1.3015.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is forming a pullback towards 38.2% fibo after finishing a quick ascending movement.

USDCAD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future