The Aussie was appreciating against its Canadian counterpart for three weeks, resulting in the formation of a channel up. This pattern was breached to the downside last week when the rate entered a consolidation period. The pair’s decreasing trading range formed a symmetrical triangle with three confirmations on each side. Given the characteristics of a...
AUDCAD closed above the 5 EMA after closing below for one day. Therefore, I am buying today, Friday 8/11/2017 only. I will be placing buy orders at each fib and fib extension level between 4.236 and -4.236. Each trade consists of a 20 pip stop and a 60 pip take profit target.
Three bigger waves and its 3rd wave as five small waves (like triangle pattern) have finished. I am expecting this pair to fall. --Trade your own idea
AUDCAD has formed a bearish engulfing candlestick after consecutively making lower highs and lower lows. A valid down-trending support line bounce further confirms this short setup. SL set above previous highs, TP set at previous lows.
Im expecting an upside move (50.00% fib) strong support at 0.98850 enjoy Like and Follow
Long term downtrend possiblity of break to upside Not entering any traders just yet Let's see what the market will give us Always use risk management when trading
'Bearish Doji Star' formation on AUD/CAD raises scope for downside, good to go short on break below 0.9915 (20-DMA) AUD/CAD dived to over 0.75% on the day, slips below 5-DMA support at 0.9977. Aussie slumps across the board on dovish RBA Deputy Governor Debelle's comments. Debelle said that a rising AUD is complicating the economy's adjustment and is not...
AUD/CAD has shown a decisive break above major trendline resistance at 0.9955. The pair is currently hovering around 1.00 mark, bulls now eyes 200-DMA at 1.0033. Reserve Bank of Australia (RBA) maintained a hawkish tone in its July monetary policy meeting minutes, released earlier today. Australia's employment report for the month of June, due later this week...
ENTRY: 0.98455// SL: 0.98675// TP1: 0.98204// TP2: 0.98034
God resistance summer trading i don't expect major moves or tech brakes.
This is the perfect example of how aligned and connected the markets are. Looking at the price action, we can see that the recent move up beginning in May wasn't produced by any sort of major turn. It just decided to move up. That screams short-lived relief rally to me and could likely end up serving as a bull trap to catch the newbies off-sides. When...
Ascending triangle here, could break either way really. Wait for a breakout candle to confirm any kind of entry. Fairly high probability setup but wait for the price action to make a move. Enjoy
AUDCAD has formed a Bullish Engulfing candlestick. Price failed to make new lows confirming this trade setup. SL set below previous lows.
AUD/CAD has broken 200-DMA on Tuesday's trade and is currently holding minor trendline support at 0.9960. Break below will see further drag. Technicals support downside, momentum studies are bearish. Bank of Canada Governor Stephen Poloz said this week that the central bank could raise interest rates sooner than previously thought. The strength in the...