Interesting day where DXY have got strong ip, 0.5% but AUD have not moved really down. I see this is a sign that we may have stopped the fall and soon heading upwards?!?
1. 127.2 Fib extension still has not been touched at 0.6678
2. They may violate this demand zone to collect liquidity (stops) and then move upwards
3. It is going down!!!
vikinsa
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@krst 127.2 was touched as expected. Price is moving. Lets see how it plays out from here. USDCAD should go down ideally.
vikinsa
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sometimes it that accurate:
krst8
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@vikinsa, very nice indeed, took that trade up to xx30, maybe that we go down again below 6700 and some more to take out stops for now, retail sentiment is extremely high on long still...
vikinsa
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@krst8, quite possible. That is definitely one of the possibilities.
krst8
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Back at 6700. Maybe NFP will help to set direction of more down or not...
vikinsa
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@krst8, we are back in the zone. 23.6 Fib rejection is not very common especially with this much strength. Lets see if the zone holds. Manage trades properly.
krst8
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Yes, bouncing much last days trying to new up momentum . But also opportunity to make some quick swing trades long from about 6670 levels with rather tight downward stops.