From May the 2-nd the US starts imposing sanctions on all countries that are buying oil from Iran. As the result Brent oil jumped up till 74$ per barrel and gave support to Canadian dollar, which is now strengthening against the Australian dollar.
On our working daily time frame the pair broke down the local trend line, which was heading up. That happened after the pair touched the 61,8%. There is a divergence between the price and MACD histogram. Williams %R indicator broke its upper line down and started returning back into the working zone.
On higher weekly time frame 200-EMA is heading down that means that the global trend is bearish. The pair is trying to return back below the level 38,2% Fibo-correction – 0,9540
Results: after getting the confirmation signals from indicators (MACD lines have to intersect each other; Parabolic SAR has to reverse) – it will be possible to open long positions with the target 0,9470.
On our working daily time frame the pair broke down the local trend line, which was heading up. That happened after the pair touched the 61,8%. There is a divergence between the price and MACD histogram. Williams %R indicator broke its upper line down and started returning back into the working zone.
On higher weekly time frame 200-EMA is heading down that means that the global trend is bearish. The pair is trying to return back below the level 38,2% Fibo-correction – 0,9540
Results: after getting the confirmation signals from indicators (MACD lines have to intersect each other; Parabolic SAR has to reverse) – it will be possible to open long positions with the target 0,9470.