USD/CAD breaking below key pivot zone- initial support objective in view. AUD/USD now testing key confluent resistance- breakout potential. Gold breakout underway – initial resistance objectives in view.
/CAD, “responded to technical resistance and the focus is on this pullback within the broader uptrend. From at trading standpoint, rallies should be limited to the weekly open IF price is heading lower on this stretch- look for a larger reaction on a test of the 1.35-handle with a breakout of the October range to offer further guidance here.” Price registered a high at 1.3854 in the following day with the subsequent reversal breaking below support this week the 23.6%.
with subsequent support objective eyed atbacked by the November open at. Ultimately a breakout of this descending pitchfork is needed to mark resumption of the broader uptrend.: A break below key support at the October range lows threatens a larger correction in USD/CAD. From a trading standpoint, look to reduce portions of short-exposure / lower protective stops on test of 1.3326. Rallies should be limited to the monthly open IF price is heading lower on this stretch.
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