Aud-cad
AUDCAD testing a weekly resistance 🦐AUDCAD after the attempt to break the weekly support close the last trading day of the week with an impulse to the upside.
The market is moving inside a descending channel and recently tested the lower trendline.
According to Plancton's strategy if the price will break above we will set a nice long order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
AUDCAD - ShortLooking out for continued bearish momentum.
- Rejection at resistance
- Rejection at 61.8% fib level
- Overall bearish trend
AUDCAD on a false breakout 🦐AUDCAD after the attempt to break the weekly support close the last trading day of the week with a double bottom higher close formation.
The market is moving inside a descending channel and recently tested the lower trendline.
According to Plancton's strategy if the conditions will be satisfied we will set a nice long order.
----
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
COT CURRENCY REPORTAUD, NZD & CAD:
It was a big week for the NZD after the RBNZ followed in the BOC’s footsteps by bringing forward rate hike projections to Sep 2022. Keep in mind the reason why we haven’t seen a correspondingly big uptick in NZD positioning is because the CFTC data is only updated every Tuesday and does not include the big moves seen in the NZD from Wednesday.
For the CAD, even though the bias remains unchanged, sitting at over 44K net-long, the second largest among the G10, one has to argue that the CAD has been looking rather stretched at its current levels. That, of course, doesn’t mean the bias has changed, but it does not mean at these levels the risk to reward to continue buying the CAD doesn’t look that attractive.
In the week ahead for the AUD, we do have the RBA policy meeting coming up. However, the more anticipated meeting is the July one as the bank previously highlighted that they would use the July meeting to provide additional guidance regarding their QE program and their Yield Curve Control. Thus, the June meeting are not expected to provide any real fireworks.
JPY, CHF & USD:
Real yields, FED policy and Reflation expectations continue to be key drivers for the US Dollar. That means that incoming data will be very important for the market as it will be used as a gauge to determine how far or how close FED tapering will be.
In the week ahead there are several important data points coming up which will be interesting inputs for the US Dollar.
What a week it was for the JPY, which fell off the proverbial cliff at the latter part of the week. Pressured not only by US10Y staging a bit of a recovery on Thursday, but more influenced by month end flows where Citi bank noted that they estimate Japanese investors will need to sell JPY to reduce hedges on foreign bonds.
With month-end effects mostly out of the way, the focus for the JPY will once again fall on US yields.
GBP:
The bullish bias for Sterling remains intact. Positioning has once again reflected the bullish bias as the biggest build in net-long positions with the most recent CFTC data.
Sterling made some impressive runs in the past week as the markets reacted very favourably to comments from BOE’s Vlieghe who noted that there could be scope for faster policy normalization if the economy develops in line with their estimates and more importantly if the negative impact from the phasing out of the furlough scheme is contained.
Markets took the news very positively, as they were hawkish comments from a more neutral central bank member. However, they comments were very conditional on the labour market staying firm after furlough ends.
Also, Vlieghe won’t be at the bank after August which means that his comments surrounding monetary policy should be taking with a pinch of salt as it does not necessarily represent the views of the actual voting members.
It’s going to be a quiet week ahead for the GBP in terms of economic data.
EUR:
Still the biggest net-long position among the majors. Issues surrounding the fundamental outlook for the single currency still has complications, but with the vaccination roll out gathering momentum we have seen sentiment data picking up on the prospects of a reopening. The EUR has remained well supported over the past few weeks as the USD continued to lose favour and as markets look towards a fast economic rebound once the vaccination efforts allow the EU to lift restrictions.
If the EU can reach their vaccination targets, we could well see a faster recovery playing out in the EU. However, when we compare that potential recovery in terms of growth or inflation differentials, or compare the policy response between the US and UK or compare policy normalization expectations it seems the EU is still lagging behind that of the US and the UK.
For that reason, we are staying patient with our med-term bearish view on the EUR for now and will wait for more information and data before we change our mind.
AUDCAD a short outlook 🦐After our previous analysis, AUDCAD reached and tested the weekly support.
The price is currently breaking below and according to Plancton's strategy if the market will satisfy the conditions we will set a nice short order.
----
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
AUDCAD approaching 1st resistance, potential for a reversal!Price is approaching 1st resistance, in line with 50%, 61.8% Fibonacci retracement and horizontal pullback resistance, where we could potentially see a reversal and drop further towards 1st support, in line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support. Price is also holding below the Ichimoku cloud resistance, showing signs of bearish pressure as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
💡Don't miss the great buy opportunity in AUDCADTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.9355).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 65.
Take Profits:
TP1= @ 0.9410
TP2= @ 0.9450
TP3= @ 0.9500
TP4= @ 0.9555
TP5= @ 0.9615
SL= Break below S2
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💡Don't miss the great buy opportunity in AUDCADTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.9355).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 65.
Take Profits:
TP1= @ 0.9410
TP2= @ 0.9450
TP3= @ 0.9500
TP4= @ 0.9555
TP5= @ 0.9615
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
AUD/CAD, possible growth scenarioTaking a look at higher timeframes, we can observe that the price has successfully bounced off a major zone of support. Looking at smaller timeframes, it can be inferred that the price is continuing to grow. We are expecting the price to keep going up till the target indicated on the chart.
BUY AUDCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price broke from its DESCENDING CHANNEL.
Let us know your views on this in the comment section. Thank you all.
There is good news for our followers. We will be analyzing on-demand.
So let us know which pair you want our analysis on, and we will get it for you. Do like and follow us.
AUDCAD holding below descending trendline! Potential for drop!Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistances, in line with our bearish bias. We could potentially see a reversal at 1st resistance in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance, and further downside towards 1st support, in line with 61.8% Fibonacci extension and horizontal swing low support.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDCAD facing bullish pressure, potential for further upside!Prices are facing bullish pressure as prices are taking support from horizontal swing low support in line with 61.8% Fibonacci retracement and 50% Fibonacci extension. Prices might push up towards horizontal swing high resistance in line with 78.6% Fibonacci extension and -27.2% Fibonacci retracement. If prices push down, prices might take support on 2nd support in line with horizontal swing low support, 127.2% Fibonacci retracement and 100% Fibonacci extension. EMA is also below prices, showing a bullish pressure for prices.
AUDCAD facing bearish pressure, potential for further downside!Price is facing bearish pressure as it continues to hold below both descending trendline and Ichimoku cloud resistance, in line with our bearish bias. We could potentially see price reverse at 1st resistance, in line with 38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback resistance, and further downside towards 1st support, in line with 78.6% Fibonacci extension and horizontal swing low support.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUD/CAD Analysis Welcome back! Please support this idea with a LIKE if you find it useful.
*** AUD/CAD - Would like to see a push up to the weekly resistance followed by trend continuation.
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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AUDCAD: Important Breakout & Bearish Continuation 🇦🇺🇨🇦
Hey traders,
AUDCAD is trading in a long-term bearish trend.
For the last two weeks, bearish movement has stopped.
The price was consolidating within a horizontal trading range.
This night its support was finally broken.
Now chances are high to see a bearish continuation.
Next goal - 0.94
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AUDCAD short set up 🦐AUDCAD after the last bearish impulse retraced until the 0.382 Fibonacci level.
The market is now testing the support and according to Plancton's strategy if the price will break below we will set a nice short order.
----
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigg
AUDCAD - ShortPotential for further downside as price rejects at previous support (0.9540).
if bearish momentum continues, the price could head down to the previous resistance zone on the daily time frame (around 0.9400).
The Canadian dollar has shown good strength recently which we help create bearish momentum on this pair
Probability of price rise
As you can see, a downward trend line has been formed that seems to be very strong. It has now reached a support that we think is strong enough that it will not break easily because its touch points are high. We are currently witnessing a strong compression. If this compression is broken, we will see a strong downward or upward movement.
If support is maintained, we may see the price approach the trend line, but if it breaks, we may have to wait for the next support.
Take a look at the chart in daily timeHi everyone
I hope you are well
In our previous analysis, we focused on buying transactions. In this analysis, we analyzed the chart in daily time. You can see that Zoon 0.9448 to 0.9490 has good price support. We also have a resistance-resistance line that reacts to this line several times. But this time, the price may be trapped and break the support level and we will see a move towards 0.9270.
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AUDCAD Possible Short SetupAUDCAD is resting in the previous support zone of 0.9518-0.9536. After breaking quickly through this zone by slightly over 60 pips, price slowly made its way back.
The 4H chart shows a downward bias as the 20, 50, and 200 period MAs are crossing down. Furthermore, price is resting right at 20 period MA, a great place for a potential reversal downward.
I was hoping for a super clean retest here where price bounces off the 50 period or 200 period MA right at my retest zone. However, it doesn't look like we're getting that. As such, I will be taking this trade with a 1% risk instead of my normal 2%.
I will personally wait to enter this trade until I see a clear bearish reversal pattern on the 1H chart or some lower lows and lower highs on the 15m.
Furthermore, the RBA will be releasing their Rate Statement and Chast Rate tonight at 12:30am Eastern. That makes this a risky entry. However, it is epxected that the cash rate will remain the same through 2023 or so. They may make some changes to QE and curve control, among other things. Ideally, we can get a clean entry before the RBA data is released.
Patience is the name of the game, so I will be watching this pair for a solid entry.
