empty
 
 
23.08.2012 12:08 PM
AUD/CAD Wave Analysis for August 23,2012

This image is no longer relevant

AUD/CAD Elliott Wave
Since our last analysis the AUD/CAD pair was trading in an upward move, developing corrective (B) wave (coloured green) of the bigger (2) wave (coloured orange). Yesterday during the European and New York sessions we could observe strong ascending movement from 1.0332 towards the 1.0430 level where this currency pair found resistance and the price started pushing lower at the end of the NY session. At the moment, the price is trading around 1.0410 level and we are expecting to see it around 1.0480 soon .In accordance with our wave rules and taking into account that the wave B retraces 61.8% of the wave A, we can define the potential targets with Fibonacci retracement (1.0593-1.0292), with Take Profit at 1.0481 (61.8% of wave A). To reduce the risk, we can use support at 1.0375 level as Stop Loss.
Support and Resistance
(S3) 1.0198 (S2) 1.0293 (S1) 1.0351 (PP) 1.0389 (R1) 1.0446 (R2) 1.0484 (R3) 1.0579
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0415 with Stop Loss 1.0375 and Take Profit 1.0481 are recommended.

InstaForex Analyst,
Especialista em análise na InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $6000 mais!
    Em Dezembro nós sorteamos $6000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback