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AUDCAD has been stuck inside a consolidation range of 24 pips for about 7 days now, now the price has closed above the zone at it's very possible we could see a high possibility of an upside break.
AUD/CAD BUY SL@: 0.9124 T-P1: 0.9209 TP2: 0.9239 TP3: 0.9299
AUDCAD bounced on a monthly support giving us a nice divergency on the daily RSI. The pair is currently consolidating but I'm expecting a breakout upwards due the bullish push prior to the consolidation. Targeting the 61.8 Fib level.
We hit the resistance, now its pretty clear that we will hit the block i drew in, its an "doji" candle time zone, as I call it, at that time the market was indecisive, now as we hit equilibrium we can see that its now decisive, with an clear long position.
Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
AUD/CAD is looking bearish right now, long it till the block i drew into the chart. After that we can expect a short until the support. For now it looks like after the support is hit, it'll pump, but we gotta wait for confirmation in a few hours / days.
Midterm forecast: While the price is above the support 0.9105, beginning of uptrend is expected. We make sure when the resistance at 0.9610 breaks. If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: A peak is formed in daily chart at 0.9395 on 06/04/2019, so more losses to support(s) 0.9170...
Midterm forecast: While the price is above the support 0.9105, beginning of uptrend is expected. We make sure when the resistance at 0.9610 breaks. If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: A peak is formed in daily chart at 0.9395 on 06/04/2019, so more losses to support(s) 0.9170...
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AUDCAD is presenting us with an opportunity to sell the breakout of a bear flag . We have multiple other signals that suggest further bearish movement: 1. Reversal off .5 fib retracement 2. Smaller broken and retested bearish flag inside of the larger channel. Please comment, like, and follow me for more ideas!
There seem's to be a double bottom formation forming on the 4H chart for AUDCAD.
On 5 June I went short AUDCAD at 0.96364 due to a reaction at a prior key level and a fundamental short bias. Stop to be trailed as position plays out.