CADJPY Is Making a Bullish case, while GBPAUD Looks into a Correction
With strong crude oil, strong stocks and downtrend on USDCAD, then CADJPY can be very interesting for more upside. We are observing an impulsive recovery which can be underway up to 93.00, so current minor set-back can be just another fourth wave within uptrend with support at 90.50.
GBPAUD is bearish but before it may continue lower we still think that deeper pullback will occur. Watch out for that 1.7505 resistance where new turn lower can occur, ideally after a completion of wave two.
Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.
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