AUDCAD is approaching its support at 0.9650 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.9698 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 7.9% where a corresponding bounce could occur.
AUDCAD is approaching our first resistance at 0.9770 (horizontal swing high resistance, 100% fiboancci extension, 78.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.9632 (100% fibonacci extension, 23.6% fiboancci retracement). Stochastic (89,5,3) is also approaching resistance and we might see...
The US Dollar fell after Fed chair Jerome Powell surprised the market by saying that interest rates are “just below” neutral levels. He believes economy will continue growth with low unemployment and inflation around 2%, but he thinks moving too quickly could risk shortening the US expansion. Personal income and spending grew more than expected but jobless claims...
AUDCAD is approaching resistance at 0.9801 (61.8% Fibonacci retracement, Elliot wave structure), where it could potentially reverse down to its support at 0.9532 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic is approaching its resistance at 94% and there is a bearish divergence with price, where a corresponding reversal could occur.
Stop loss, entry price and targets are mentioned on graph
AUDCAD is approaching our first resistance at 0.9804 (horizontal swing high resistance, 61.8%, 78.6% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 0.9550 (horizontal swing low support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also...
This little creature is forming on AUDCAD 4h. PA is +30 pips away from D, but last 4 candles suggest it might arrive promptly... I'll keep an eye on it. Numbers look like: Entry: 0.96482 SL: 0.96682 TP1: 0.96008 (.386AD 2.48RR) TP2: 0.95714 (.618AD 3.97RR)
AUDCAD is approaching our first support at 0.9475 (horizontal pullback support, 100% Fibonacci extension, 38.2% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 0.9588 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (21,5,3) is also...
Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
For the past week, Durable Goods Orders dropped -4.4%, jobless claims increased and University of Michigan Consumer Sentiment Index was revised lower. While Building Permits & Housing Starts came out as expected, it becomes clear that the momentum in the U.S. economy is easing. With stocks nearly coming back down of this all of this year’s rise, investors and...
Here is a short trade I've been in since Friday. Entry was taken on the formation of the harmonic pattern. Entry was at 0.9580 with a broad stop set at 0.9740 Encouragingly it looks like a head and shoulders pattern is forming with RSI and MACD showing bearish divergence. Should the H + S complete, we would be looking at a minimum retracement to 0.9460 Cheers Andy
AUDCAD Sell Setup Details are on the chart. Happy Trading!
The US Dollar Index last week are unable to stay above 12260 levels even though there was an increase of consumer prices and retail sales numbers. Ultimately, the Fed policy direction until December are still clear and recent stocks are under pressure for investors to look back into US dollars. The long-term still remains as unchanged constructive for bull, till...
AUDCAD is currently pending employment numbers. If they miss, this pair should experience a pull back. The gap between the past and current expectation is very large.