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AUD/CAD bounce up from technical target

Aud/Cad has hit a technical weekly target and has bounced
The bounce occured off the weekly fibonacci expansion level of 100% of the last weekly move
You can see this on the weekly chart
I have drawn the weekly fibonacci retracement levels from the last weekly move up,
and then from the last weekly move down aswell (in Red and Blue)
Aud/Cad weekly chart
Looking a bit closer on the daily chart we can see that the bounce off the 100% weekly expansion level is exact
The price is moving above the 23…
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AdamFx42 13 Ene

Pair has moved a bit lower initially than I expected, but bounce did occur as I set out,
and point of resistance is playing out as on my daily chart now

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AdamFx42 15 Ene

0.9750 area has proved to be strong area of resistance as price moves down towards 0.97
at the moment -- area of support, now containing the 61.8% fibonacci expansion area, and the 61.8%
fibonacci retracement level around 0.9650 should contain any movement down,
and provide a bounce back towards 0.97 level if it is broken to the downside

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AdamFx42 23 Ene

Aud/Cad moved up to 102 after the surprise rate cut from BOC
always expect the unexpected  :-)
But now fears of a rate cut in Australia have set in too and forcing the pair down again
It is currently on route towards my target again

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AdamFx42 26 Ene

About 120 pips above target now - but looking weak, further drop could come
Aud/Usd is well below 0.8 now, and this will affect the crosses

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AdamFx42 29 Ene

Moving down towards target now - about 60 pips above
Like I said - pair is being affected by Aud weakness,
expect to hit my target the end of the week

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GBP/USD finally has found some support

Gbp/Usd has been in a steep decline down from the 1.72 highs
The pair has seemed to have found a support area around 1.56 on its way down
We will see if the retracement is on
On the weekly chart we can see the bullish candle after the failiure to break below 1.56 level,
this indicates that the pair has formed support there and will now move up
We can also see that a bullish divergence is occuring on the stoichastic indicator
We can estimate the retracement back up through the weekly and daily fi…
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Pair has put in a new low -- just below previous one, making my prediction wrong,
need the move up to start - so i can be right about the recovery back up to 1.59
I still think it is the right prediction on the whole

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AdamFx42 10 Dic

The pair is starting to look bullish as it is holding above 1.57 now,
need a steep move up, though, to reach my target

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GBP/USD is still on its way down

Gbp/Usd seems ready for a leg lower
On the weekly chart the RSI and the MACD are both very bearish
A possible target for the pair is the 61.8% fibonacci retracement level
from the last big weekly move up - this level lies just above 1.57
Gbp/Usd Weekly Chart
If we take the last move on the daily chart,
the 61.8% fibonacci expansion level lies around 1.59, and the 100% level below 1.57
The 61.8% level lies below previous lows - but not far below - and will probably be taken out
in a strong move d…
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AdamFx42 19 Oct

Gbp/Usd is supported around 1.6 at the moment - need this level to break to lead it down further
If 1.6 does brake, there is no further support until my target

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AdamFx42 30 Oct

1.6 has been broken to the downside again - and with it the 50% fibonacci retracement,
if price stays below 1.6, then the next target should be the 61.8% retracement

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Weekly 50% fibonacci retracement level has been broken down together with 1.60 now
Price has bounced from the daily 100% fibonacci expansion target I drew on the daily chart
and another move down is needed to break it again

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AdamFx42 15 Nov

Break has occured, and the price followed the action that I predicted on the daily chart
but has broken the resistance area around 1.57 that I thought would hold it
The low is around 1.56 - this is below weekly fibonacci 61.8% support,
so I will need a bounce to come near my target

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AdamFx42 26 Nov

No real bounce, and price is just above 1.57 now, a bit higher will bring it close to target

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AUD/JPY supported by weekly bullish trendline

Aud/Jpy is moving down towards the lower border of the weekly trendline right now
The MACD and the RSI are both bearish
and the price has just broken below the 38.2% fibonacci retracement level again
We see all this playing out on the weekly chart
Aud/Jpy weekly chart
On the daily chart we can see that the 100% fibonacci expansion area of the last move down
and the lower border of the trendline form a support area together at a certain point;
I believe this support area will hold the price,
then…
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AdamFx42 19 Oct

Lower trendline weekly has indeed been tested and has held the price drop as I predicted,
the bounce up is strong and price will probably move higher and then retrace again

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