🔹Technical Analysis of AUD/CAD (4H Chart)
🔹Market Overview:
The AUD/CAD pair is currently trading at 0.90344, showing a minor decline of -0.20% in the latest session. The chart indicates a bullish outlook, contingent on price action respecting key support levels.
🔹Key Technical Levels:
▪️Buying Area: 0.9005 - 0.9030 (Highlighted in green)
▪️Demand Zone: 0.8940 - 0.8960
▪️ 1st Target (Resistance): 0.90798
▪️ 2nd Target (Resistance): 0.91361
🔹Trend Analysis:
▪️The price has been in an uptrend from its lows in January, forming higher highs and higher lows.
▪️ The 50-period moving average (red) and the 200-period moving average (blue) are converging, signaling potential support in the buying area.
▪️A retest of the buying zone (0.9005 - 0.9030) is expected before a possible upward continuation toward the 1st and 2nd targets.
🔹Market Sentiment & Trade Plan:
▪️Bullish Bias: If the price finds support in the buying zone and forms a bullish structure, it presents a buy opportunity with a target at 0.90798, followed by 0.91361.
▪️Bearish Risk: If the price breaks below the demand zone (0.8940), bearish momentum could extend further downward.
🔹Conclusion:
Traders should watch for price action signals in the buying zone. A confirmed rejection could provide a strong buying opportunity, targeting higher resistance levels. However, a breakdown below the demand zone would invalidate the bullish bias.
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🔹Market Overview:
The AUD/CAD pair is currently trading at 0.90344, showing a minor decline of -0.20% in the latest session. The chart indicates a bullish outlook, contingent on price action respecting key support levels.
🔹Key Technical Levels:
▪️Buying Area: 0.9005 - 0.9030 (Highlighted in green)
▪️Demand Zone: 0.8940 - 0.8960
▪️ 1st Target (Resistance): 0.90798
▪️ 2nd Target (Resistance): 0.91361
🔹Trend Analysis:
▪️The price has been in an uptrend from its lows in January, forming higher highs and higher lows.
▪️ The 50-period moving average (red) and the 200-period moving average (blue) are converging, signaling potential support in the buying area.
▪️A retest of the buying zone (0.9005 - 0.9030) is expected before a possible upward continuation toward the 1st and 2nd targets.
🔹Market Sentiment & Trade Plan:
▪️Bullish Bias: If the price finds support in the buying zone and forms a bullish structure, it presents a buy opportunity with a target at 0.90798, followed by 0.91361.
▪️Bearish Risk: If the price breaks below the demand zone (0.8940), bearish momentum could extend further downward.
🔹Conclusion:
Traders should watch for price action signals in the buying zone. A confirmed rejection could provide a strong buying opportunity, targeting higher resistance levels. However, a breakdown below the demand zone would invalidate the bullish bias.
😊Don't Forget To Hit The Like Button & Share Your Thoughts In Comments.
Note
The price touches our target area without entering our buying zone , so still we are waiting for price comes to our level.Note
1st buying zone , didn't made buy sign, now we are expecting upward movement from demand zone.Trade active
from demand zone.Trade closed manually
Trade closed with 100 pips+ profits.
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💸FREE FOREX Signals in Telegram : t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.