On the AUD/CAD we can see a potential Bearish Cypher pattern with an opportunity to short.
PRZ:
1.272 external retracement of the BC leg at 1.0160
0.786 internal retracement of the XA at 1.0157
TP:
0.382 of the CD leg at 1.0109 (50 pips from the PRZ)
0.618 of the CD leg at 1.0085 (73 pips from the PRZ)
As we can see the price is approaching PRZ but the pattern is not finished yet.
RSI indicator is getting close to the overbought area.
Be patient and ready for the signal!
Best trades!
PRZ:
1.272 external retracement of the BC leg at 1.0160
0.786 internal retracement of the XA at 1.0157
TP:
0.382 of the CD leg at 1.0109 (50 pips from the PRZ)
0.618 of the CD leg at 1.0085 (73 pips from the PRZ)
As we can see the price is approaching PRZ but the pattern is not finished yet.
RSI indicator is getting close to the overbought area.
Be patient and ready for the signal!
Best trades!