I will be watching oil & gold for direction
AUDCAD - Daily
Price is reaching the top of the downward channel, I will be looking to short from MR1. If price breaks & closes above the Daily 200 ema I will be looking for a pull back to long. A break above MR2 will indicate bull are in charge.
On the 4 hour chart I will be looking for a pull back to approximately the yearly pivot point at 0.9804 but I will start looking for a reaction at the 50% fib 0.98199 Note – 0.98 is a major psychological level so a lot of bulls will be buying.
Possible scalp at 0.98400, if price drops to 0.9800 I will definitely looking to long