H4 has not turned down yet, if it does, it will be showing us a divergence
I will be more patient/cautious on this, reason being :
- price has just been going up and up with no indication of stopping yet
- Oil made a at $52 and is now $46.50, giving weakness to the CAD
Typo : Entry was at 1.4857
Do you think that the fact of the oil weakness will eventually effect also the AUDCAD as if I am not doing something wrong I can see an AB=CD pattern on that pair and at the extremes of a parallel channel, I can also see some bearish divergence with RSI on this pair.
I would love to have your opinion on this one.
Thanks & Regards,
Since the oil is mostly exported to the US, the USDCAD pair is very sensitive to oil prices.
Very nice spot here. I didn't see it myself. Thanks.
I have the AB=CD on the AUDCAD terminating at 1.0342
This also coincides with the 13th April 2014 high. Perfect. Let's watch this one too.
Shall I share this AUDCAD on a separate new post