I want to go short if the price retraces back to the trendline.
AUDCAD has dropped strongly and is now seeing strong bearish momentum continue to push it lower. A further drop could occur below 1st resistance at 0.9772 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud) to push prices down to major support at 0.9733 (Fibonacci retracement, horizontal pullback support). RSI (55) has made multiple...
Going short on this pair as price finally rejected resistance level on the weekly and daily charts. Doji candle followed by a bearish engulfing. Good Risk Reward
AUDCAD is fast approaching major 1st support at 0.9783 (Fibonacci extension, Fibonacci retracement, bullish Ichimoku cloud, swing low support) where a bounce might occur pushing price all the way up to major resistance at 0.9856 (Fibonacci extension, horizontal swing high resistance). RSI (55) sees strong ascending support continue to hold prices up nicely. ...
Price completed a technical head and shoulders pattern, and broke out of the neckline. Will we see a continuation to the upside?
AUDCAD is testing major resistance at 0.9717 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) and a strong reaction could occur at this level to push prices down to major support at 0.9644 (Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance at 91% where a corresponding reaction could occur....
AUDCAD is testing our first resistance at 0.9717 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 0.9644 (horizontal pullback support, 50% Fibonacci retracement). Stochastic is also seeing a bearish divergence and is approaching resistance where a reaction...
AUDCAD is approaching our first support at 0.9665 (horizontal overlap support) and a strong bounce might occur above this level pushing price up to our major resistance at 0.9740 (horizontal overlap resistance, 61.8% Fibonacci retracement). A breakout above our intermediate resistance at 0.9709 (horizontal overlap resistance, 23.6% Fibonacci retracement) might...
This one is a somewhat similar setup to the USDCAD trade. Expect and trade a rather sharp move down in the very short term, and then get out of the trade. Again, this is for the very short term, the overall trend remains quite bullish. Eventually, the trend will reverse and there will be a more longer-term move down, but I'll outline this in an update in a few weeks.
All information on the chart. Any questions? Just comment! Please do leave a like, it helps. ^^
The giant monthly pin bar is really pushing the market down.
AUD/CAD extends break below 200W SMA, eyes trendline at 0.9645, stay short Risk event: RBA policy meet. Technical Bias: Bearish Support levels - 0.9710 (Jan 2018 low), 0.97, 0.9645 (Triangle base), 0.9626 (61.8% Fib) Resistance levels - 0.9725 (5-DMA), 0.9763 (5W SMA), 0.98 Good to go short on rallies around 0.9725, SL: 0.9765, TP: 0.9645/ 0.96/ 0.9580.
We made an easy profit from the 1st setup. Now I prefer a pullback to the monthly level and the pink trend line and continue to -61.8% Fib level which is close to weekly level.
Long AUDCAD @ 0.9540; TP @ 0.9775, SL your choice
So guys we've got a short on AUD/CAD! Prices could reach lows of 0.95500/0.94500. After this I'm expecting to go long!
Guys we could go long on this pair. Have a look at this trade very closely, I believe we could go long up to highs of 1.00000 potentially 1.01500, then 1.02500. Of course, hold if all targets were to be achieved this could take 2 -3 weeks. I'm willing to risk no more than 50 pips on this. TP:1.00000/1.01500/1.02500