We recommend selling AUDCAD targeting 0.9914 (50-day moving average), with stop loss 1.0150 (above recent highs) for a total reward-to-risk ratio of 2:1. As discussed in Asia Pacific: US tariffs: A minor setback for now, 2 March 2018, the steel tariffs reinforce our view of AUD underperformance on the basis of late-cycle domestic dynamics, and an expected...
The commodity currencies – Australian and Canadian dollars – have steepened their decline provoked initially by falling crude oil prices, along with the greenback recovery. The additional bearish driver emerged following the Trump’s decision to impose major tariffs on steel and aluminum from other countries – 25 per cent and 10 per cent respectively. The bearish...
Bullish for now.. Approaching resistance at 0.995 Maybe some bears would fight back.. Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for...
A review was made for the Aussie pair, as the previously drawn pattern was broken. The currency pair has been volatile since the last time it was reviewed. After reaching the 50.00% Fibonacci retracement level, the AUD/CAD pair made a U-turn north and has since been trading in that direction. This retracement can be measured by connecting the low at 0.9582...
AUD/ may break the downtrend and find strength at the monthly S3 which would send it on its way up the channel. if it breaks the channel can expect t to head towards yearly S3
Price at the top of the resistance. Once a bear candle appear, it will be a low risk entry position Do note that daily timeframe is still quite bullish. Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You...
Video explains it but the Trendline Slash has occured RSI shows price not likely to break back through now looking for a ranged Shoulder to form within Demand & Supply.
AUD/CAD price action has broken below channel base support. Bias lower, stay short for 0.9743/ 0.9710.
AUD/CAD holds 200-DMA support at 0.9897, intrday bias bearish. The pair is down 0.17% on the day, we see weakness to extend on break below 200-DMA. Technical studies are bearish. RSI is biased lower. Stochs have rolled over from overbought levels. MACD is showing a bearish crossover on signal line which adds to the bearish bias. The pair is trading in a rising...
AUDCAD is overbught and shyig away from a 50% retracement; I'm going short!
AUD/CAD has been trading in a neat ascending channel since early November. Along the way, the Aussie breached a long-term descending channel valid since February, 2017. Following the breakout, a minor channel up was guiding the pair towards its five-month high of 0.9971. Given that the pair has reached the upper boundary of the senior channel circa 0.9980, it is...
AUD/CAD closed above 200-DMA on Wednesday's trade, scope for further upside. Bank of Canada hiked rates by 25bp to 1.25%, inline with market expectations. In a statement that followed, the Bank noted higher rates will be needed over time but there’s no rush to deliver another follow up anytime soon. Governor Poloz said that accommodative policy is still needed due...
AUD/CAD is extending spike for 2nd successive session, trades 0.54% higher on the day. Dismal Canadian building permits data and NAFTA setback weighed heavily on the Canadian Dollar. Reuters reports mentioning that Canadian authorities were increasingly convinced that President Trump will announce US withdrawal from NAFTA sent the CAD tumbling. Focus now on the...
On the daily time frame AudCad is looking at further down movement. The lower range has already been broken and the indicators show power that might also break the support. So AudCad sell position can be profitable to hold for 1-2 days. Entry: cmp TP: 0.97 > 0.9645 SL: 0.9820
AUDCAD is now back to pullback support where it previously broke out from. A possible bounce could occur at this level above major support at 0.9782 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a rise towards 0.9876 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (55,5,3) is making a similar pullback...