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AUD/CAD is going for a butterfly

AUD/CAD is going for a butterfly

Information is not investment advice

If we look at the weekly chart of AUD/CAD, it looks like the pair is forming a bullish “butterfly” harmonic pattern. In line with this pattern, it can move down to 0.8975 (50% Fibonacci retracement of the 2008-2012 advance) and then bounce targeting 0.9250 (uptrend resistance line since 2018). This consideration can form a basis for a couple of trade ideas. 



XAU/USD: where to next?

XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.


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