Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

AUD/CAD reached buy target 1.0100

  • AUD/CAD reached buy target 1.0100
  • AUD/CAD buy target - 1.0180

AUD/CAD continues to rise after the earlier breakout of the pivotal resistance level 1.0100, which was set as the buy target in our earlier forecast for this currency pair. The breakout of the resistance level 1.0100 is expected to accelerate the active minor impulse wave 3, which belongs to the sharp intermediate impulse wave (3) from the middle of August.

AUD/CAD is expected to rise further to the next buy target at the major resistance level 1.0180 (which stopped the previous primary impulse wave ① December) - the breakout of which can lead to further gains toward 1.0250.

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