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Navigation FX - Technical & Fundamental Analysis
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[QUOTE="Navigation FX, post: 115803, member: 39595"] [SIZE=6][B][B]AUD/USD – Triangle with correction imminent[/B][/B][/SIZE] If you remember last week we posted an AUD/USD triangle, click [URL deleted] There was a sharp decline, with a recovery starting on the 18th November. However, a correction could be imminent. The 38.2 fibo level suggests it has been acting as a strong resistance. If the trend line breaks, an overwhelming amount of sellers may enter the market making a correction that started at the beginning of last week bringing AUDUSD down to 0.73385 (over 100 pips). Likewise with AUDCAD there was a 100 pip fall today. We wait to hear more form OPEC and AUDUSD. [IMG]http://www.navigationfx.com/wp-content/uploads/2016/11/audusd-h4-pepperstone-group-limited.png[/IMG] [/QUOTE]
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