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EUR/AUD Reversed Off Resistance, Prepare For Further Drop

EUR/AUD reversed off its resistance at 1.5954(61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.5734 (61.8% Fibonacci retracement, horizontal overlap support). Stochastic (89, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected. EUR/AUD reversed off its resistance where we expect to see a further drop. Sell below 1.5954. Stop loss at 1.6066. Take profit at 1.5734.
by Jeff Wecker
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USD/CAD Testing Support, Prepare For Bounce

USD/CAD is testing its support at 1.2960 (61.8% Fibonacci extension, 61.8%, 50%, 38.2% Fibonacci retracement, horizontal swing low support) where the price is expected to bounce up to its resistance at 1.3086 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is testing its support at 3.7% where a corresponding bounce is expected. USD/CAD is testing its support where we expect to see a bounce. Buy above 1.2960. Stop loss at 1.2878. Take profit at 1.3086.
by Jeff Wecker