Forex Results and Future Predictions EURUSD and AUDCAD Jan 30
Today we will be looking reviewing our previous prediction for both EURUSD and AUDCAD forex markets. Check out last weeks video to see how we got here:
On the EURUSD, price has been in a long term downtrend. However for the past 3 or 4 weeks we have been looking for a pullback back up to 1.07. That’s exactly what we has happened! And the exciting part this coming week is that we hope to see price for back down to the lows if everything has worked out. This would be a completion of a Elliot wave patterns that we have been watching for months as well as Fibonacci and classic zone theory as price is pulling back just to continue on with the Trend. However if price breaks the 1.0873 Supply Zone then I believe that price is doing something new and the downtrend has expired.
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On the AUDCAD market, we are seeing a very good and predictable pullback that we forecasted last week. It looks like it could bounce off the daily demand zone. This is at .9865 – .9800 and push into the high at 1.0102. This would be a GREAT pullback back trade if you can wait patiently. It needs price to give you the confirmation of the daily demand zone. We also broke 1.0095 swing from last November. That is a good side that a possible new uptrend is forming. I say this, as we did see a massive move from the daily/weekly demand levels at the bottom of .9595.
This coming week we are looking for price to rally some 250 pips back into the most recent highs. This is the pullback that we have been waiting for 2 weeks now. The bulls have been so strong that it could be amazing to see price blast off into the weekly supply zone at 1.0305. It’s very important to realize that we have a lot of blue sky above us until that area of 1.0305 so it could take a few months for us to get up there.