Daily market review – April 14th 2017

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Wall Street indexes closed yesterday with declines.
The Dow Jones Industrial Average lost 0.7%, the S&P 500 fell by 0.7% and the NASDAQ index retreated by 0.5%.

The trading on Asian stock exchanges is being led by price declines against the backdrop of rising geopolitical tensions.
Tokyo fell by 0.5%, Shanghai weakened by 0.9%, Seoul fell by 0.6%.

In the forex market, the US dollar was trading against the Japanese yen with a falling more than 0.1% to around 108.94 yen per dollar, a record for the Japanese yen since November 14.

Today there is no trading in Sydney, Hong Kong, European stock exchanges and Wall Street due to Easter.

Trading Opportunity
AUD/CAD

We are following this opportunity during the last few days.
On the daily chart, after completing a double wave down that ended at the level of 161.8 of the Fibonacci exponential (between the levels of 0.9920 – 0.9960) the pair started to go up.

aud.cad d 14.4.17

How can we join in?

On the 4 hours chart we can the see a resistance trend line.

aud.cad 4h 14.4.17
First we are waiting to see the pair reaching the resistance line (around the level of 1.0120).
Then we want to see a small correction down, and after that a break above the resistance line which will create a new wave up.
On this wave we can join with a CALL trade.

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