AUDCAD update
تم تحديثه
After a three wave pattern for wave 'X' AUDCAD is expected to make a move below 0.9150.
We see a bearish impulse in progress and selling after a consolidation is what we should do. However the structure for wave (c) is complex and might turn into an ending diagonal indicating a last leg higher is needed before price will break below 0.9150. (alternative wave count (i)-(ii)-(iii)-(iv)-(v)). Short term this would not change a thing and once this bearish move progresses we will be better able to determine what to expect next.
Updates will follow
We see a bearish impulse in progress and selling after a consolidation is what we should do. However the structure for wave (c) is complex and might turn into an ending diagonal indicating a last leg higher is needed before price will break below 0.9150. (alternative wave count (i)-(ii)-(iii)-(iv)-(v)). Short term this would not change a thing and once this bearish move progresses we will be better able to determine what to expect next.
Updates will follow
ملاحظة
It seems like AUDCAD is correcting the strong bearish move of last week. But focusing on the bearish impulse I see three fractals at the moment which are almost perfect. This means that depending on what's next AUDCAD might not be ready yet for a bearish trend. In my original post I described two scenario's. Either way I will be looking for a sell once this consolidation is complete. This will most likely either be a wave 5 or wave C lower. For now I like to see the consolidation mature before selling the continuation.The arrows are only an indication and not showing expected future price patterns.
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