Large Channel Setup in AUD/CAD Currency Pair
http://www.tigersharktrading.com/articles/2082/1/Large-Channel-Setup-in-AUDCAD-Currency-Pair/Page1.html
By Jamie Saettele
Published on 12/2/2005
Technical Currency Analyst Sam Shenker writes that the AUD/CAD continues to trade within a large channel.
Large Channel Setup in AUD/CAD Currency Pair
Weekly Chart Analysis: Large Channel Setup in AUD/CAD
- AUD/CAD continues to trade within a Large Channel
- High probability setup points to a possible move below the 78.6 of the .7548-1.0557 AUD rally
- Failure analysis points to a move a break above the Channel’s upper boundary
Key Levels - Current Price: .8846
Level Type Significance
.9052 Resistance 50.0 Fib of the .7548-1.0557 AUD rally
.8697 Resistance 61.8 Fib of the .7548-1.0557 AUD rally
.8181 Support 78.6 Fib of the .7548-1.0557 AUD rally
Weekly Chart 12-02-05
Daily Chart I 12-02-05
Daily Chart II 12-02-05
Daily Chart III 12-02-05
Sam Shenker is a Technical Currency Analyst for FXCM.