AUDCAD Closer Look, We need to witness Some sell Pressure on AUDCAD from a Daily/4H timeframe look. We have a support level at 0.88997 tested severally in recent times. By Next week the 0.88997 Support will be broken to the downside. which will open AUDCAD to further Sell down to 0.87347 - 0.86665 Support Levels
From a Long term Perspective, GBPNZD is seen trying to form an up trend Chart structure/pattern, Moving from a Major support @1.66434, Created it First Higher high(HH) @2.17455 and it is seen around the up trend Lower low(LL) support, @1.87075, @1.87075 is still identified as a minor support on the most recentmarket structure (3years) Tips: A Break and Retest...
After a successful bull run for the Greenbacks, the market at this point has gotten to a tested Resistance (supply zone) and on a weekly time frame (1W) the candles has formed a valid double top chart pattern which we are expecting a sell off to the nearest support around 100.00!!!
Gold has Retested 38.2 fibb level around 1791.00 and will Continue It sell down to the next Structure. (4h-m15) time frame. Target 1782.34 (78pips) 1776.00 (130pips)
For position traders⚠️ Though Gold is on a Down trend. On the Weekly timeframe, it will Buy up to retest some strategic structure. XAUUSD just formed a double bottom 1679.33 which is also a Support, Which makes Gold very bullish.
Gold is currently on a Down trend on the Weekly Tf and has a Support to test. But first has retest my 10MA at around 1859.92 And continues the Sell Down