Watch Price Actions (PA) for one more up move before the big down fall. If we get a impulse (60pips) up, watch PA for trend continuation pattern to the upside on 15 min time frame. This is a SHORT TERM TRADE (one day- to 4 days to develop and complete) FXT :)
If looking at AUD/CAD’s movement during the past two weeks, it is apparent that the rate has entered a consolidation period with diminishing trading range. This has resulted in the formation of a symmetrical triangle. The Aussie was testing the upper channel boundary prior to plunging down to its bottom line during the first hour of this session. As the rate was...
AUDCAD LOOK LIKE A GOOD BUY IF PASS THE LITTLE RESISTANCE !!
This morning as the beginning of Asia session you can see that the market bid up AUD prepping for a good Trade Balance Data. This is kinda hit and miss historically, I just did a quick statistics analysis to data release since end of 2013 and the missed forecast currently at 49%. Not very encouraging for a certain bet. The price action up until the announcement...
I see a Bearish Opportunity here. We have Price Action making higher highs with the RSI making lower highs (Bearish Divergence). Price action hit Resistance at prior Structure Levels and we also have a 1.272 fib inversion at that level. I like this setup!
18 days of indecisive-ness 3 weeks of range From the candle, we can see higher wick spike, price is in the resistance. My bet would be on the bear side. Disclaimer : This analysis not include personal feeling/opinion, and pure base on technical analysis Trading foreign currencies can be a challenging and potentially profitable opportunity for...
AUD/CAD is extending slump for 6th successive session, momentum still with the bears. Crude oil prices jumped sharply after better than expected crude oil inventory data, supporting CAD. The pair is trading a 'Symmetric Triangle' pattern and is extending decline after rejection at triangle top. Price action has broken below daily cloud and has broken below 61.8%...
Looking at possible entries for AUD/CAD. Possible bullish move to .382 retracement which is hanging around the psychological number 1.0 or a break through 1.0 and touch .618 retracement.
The Australian Dollar is trading in an ascending wedge against its Canadian counterpart. Considering that the rate has already reach the ending point of this pattern, it might be assumed that a breakout may be due soon. The direction of this breakout should be southwards, possibly leaving the rate in the short-term channel down. Thus, the closest downside target...
Expecting a bullish movement once we hit the 0.99650 zone. Targets: 1.00900 1.01800 Like and Follow Enjoy albx