AudCad seems to be at the bottom of a channel , which fits to the fibo 0.618 of wave 3 ,
so there may be a small sell opportunity from current 0.9890 to 0.9840 ( 50 pips ) then in case the channel breaks the pair can go further down. but in case wave 4 completes and wave 5 starts the pair can grow to 1.0166 which can be a double bottom pattern too.
so there may be a small sell opportunity from current 0.9890 to 0.9840 ( 50 pips ) then in case the channel breaks the pair can go further down. but in case wave 4 completes and wave 5 starts the pair can grow to 1.0166 which can be a double bottom pattern too.