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Aud-cad

AUDCAD: Selling is the best option on this Channel Down.AUDCAD is trading inside a Channel Down pattern with the 1D technicals bearish (RSI = 43.171, MACD = -0.004, ADX = 38.042). Even though the long term pattern is bearish, the rebound yesterday and closing over the 1D MA200 can be a bullish signal along with the HL that the RSI is on (bullish divergence). However until the 1D MA50 breaks, we cannot call for any upward movement on the long term. We remain sellers on this pair, targeting S2 (TP = 0.89500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
Strong resistance level and trendline ahead for AUDCADThe AUDCAD opened this week below the wedge pattern, but quickly closed above it, indicating a desire for the price to move up. However, it needed to retest the strong resistance level at 0.905, which coincidentally is also where it meets a descending trendline, the upper edge of the wedge pattern, and the 23.6% Fibonacci level. Based on my analysis, this could be the start of an upward channel with a target of 0.915 where it meets another ascending trendline. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Long
by Candlestick_OB
1
AUDCADGood Night :) AUDCAD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Long
by HamidRamezani1992
AUDCAD on a Head & Shoulders pattern. Trade the break-outs.The AUDCAD pair is about to complete a Head and Shoulders (H&S) pattern, trading within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The 1W RSI is far from its Buy or Sell Zone (long-term) so on the more medium-term the best approach is to trade the break-outs. The neckline of the H&S is at 0.933250 so a candle close above it invalidates the bearish bias of the pattern (H&S is a bearish reversal formation). In that case, we will target 0.95500 (Resistance 1) and a new closing above it will target 0.97500 (April 20 2021 High). Until the pattern is invalidated, look for a confirmed bearish break-out below 0.90450 (Support 1) and more importantly the 1D MA200 (orange trend-line). In that case the target will be 0.88700 (Previous Low). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1
AUDCAD and FOMC, what is the link between the two?Hey Traders, Today we are coming across an important event which is the FOMC, so what is the link between the rates decision and AUDCAD? the rates decisions have an impact on the AUDCAD since the american indices have a positive correlation with AUDCAD, if the meeting today is dovish that means we will have more of a week Dollar, Bullish indices and high probably AUDCAD upsides, in case Fed surprises us with some hawkish comments due to banking sector crisis that will give us more of a strong Dollar, bearish indices since USD and indices are negatively correlated and more probably downsides on AUDCAD. Technically we are watching a retrace of a potential breakout that is more likely to happen if we have a dovish statement (0-25 bps) followed by fed speaking (dovish comments). Feel free to ask any question in the comment section!
Long
by JoeChampion
8
Bullish Trade Setup on AUDCADHet Traders, Here we go on AUDCAD, looking at the chart on 1W the pair broke out of a year descending channel and now making a fair turn to the upside. With a steady HH and HL he keeps the momentum and it reveal a new Bullish channel on Daily TF. However, the market just made an absolute retest back to weekly Demand zone which also serve as multiple level of market structure for the pair late DEC. Having a closer looks at the pair on 4H TF, it just broke the extensive LH & LL journey it embarked on since February, which could indicates a new Bullish run back to retesting the upper band of the channel. Wee, this is not an indicator to buy blindly, i an anticipating for a more bullish volume to put the 1st supply to test then follow by a pullback to retesting the BOT (trendline) then i will find my entry afterwards. Watchout.
Long
by Adefxc
AUDCAD Potential DownsidesHey Traders, in the coming week we are monitoring AUDCAD for a selling opportunity around 0.923 zone, as AUDCAD is trading in a downtrend and extending pullbacks seems to be approaching the major one around 0.923 support and resistance zone. i would also recommend to take a look at the stock market confirm the bias as AUDCAD and American indices are positively correlated. once there is any bearish confirmation i would set as a target 0.912 zone as it's considered the next major support zone AUDCAD will be facing. Trade safe, Joe.
Short
by JoeChampion
6
AUDCAD Potential UpsidesHey Traders, in today's trading session we are monitoring AUDCAD for a buying opportunity around 0.91, as we noticed in the chart we are approaching an important demand zone on Daily time frame so we will see how the price action will be once we reach it. i want also to confirm this trade by taking a look at the stock market, especially American indices as they correlate positively with the AUD... so if we notice any bullish bias on indices that should be a good confirmation for this trade. Trade safe, Joe.
Long
by JoeChampion
15
AUDCAD Potential for Bearish Drop | 28th February 2023Looking at the H4 chart, my overall bias for AUDCAD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a pullback sell entry at 0.92276, where the overlap resistance and 23.6% Fibonacci line is. Stop loss will be at 0.93114, where the overlap resistance and 50% Fibonacci line is. Take profit will be at 0.90792, where the overlap support is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
1