i see 2 possible scenarios (similiar to last week) 1) price isnt able to break through the 1.0100 area and gets rejected ..i will look for a short position after a valid TL break to the downside 2) price is able to break the level to the upside and i will play it like last week...get in a trade after a strong momentum candle ..or after a pullback in the area...
Based on the previous structure we have an outside return down to 0.5 fib. Market should get back to 0.99464 and return around 0.98841. At 0.98841 BUY (T/P 0.99906; Stop loss 0.98216) Goal 1 - 0.99906 (Sell 1/2) and move stops to brake even (0.99464) Goal 2 - 1.00787 (Close positions and wait for market to adjust, It might brake resistance and get new high) Good Luck!
AUDCAD shows a clear reversal on the daily chart. A Bollinger Band squeeze has set up a very strong Bollinger Band breakout on the 4H chart. RSI was recently overbought. TP set at fib retracement levels 61.8 + 100%. I have entered short upon 4H candle closing strongly through the lower Bollinger Band.
On the daily timeframe of AUDCAD, counter trend signal starts to form. On the smaller timeframes of AUDCAD the price has already changed its trend direction: there was a breakdown of “Alligator`s” MA and MA50. Trade specification: Sell-Stop: 1.0033 Stop-Loss: 1.0092 Take-Profit: 0.9915
AUD/CAD has broken major resistances - 50-DMA at 0.9872, 100-DMA at 0.9956. Momentum studies are bullish, we see scope for further gains. RSI strength at 69 levels, MACD and ADX confirm upside momentum. Next target for AUD/CAD bulls is 1.00 (50% Fib of 1.0397 to 0.9645 fall). Weakness only on close below 5-DMA at 0.9897. Good to go long on dips around 0.9937,...
Waiting for price to reach a crucial resistance at 0.985 I'm expecting that zone to hold and take a short position there. However, if the price would break it, I will be looking to long it.
AUD/CAD extends gains after breach of resistance at 20-DMA and channel top. The pair finds minor resistance by 23.6% Fib at 0.9783, break above to resume upside. Technical studies are biased higher. RSI and Stochs are at neutral territory, bias higher. MACD line has shown a bullish crossover over signal line, scope for test of next major resistance by 200-DMA...
AUD/CAD rejected at 20-DMA on 28th Dec trade, extends slide lower. We see a decisive close below 5-DMA on Friday. The pair is on track to test trendline support at 0.9630. Violation at trendline support (0.9630) could see drag upto 0.9554 (78.6% Fib of 0.93239 to 1.03975 rally). Momentum studies are bearish, bearish invalidation only above 20-DMA at...
Just an idea of my thinking. Remaining bearish, short, dovish, negative;) on audcad. Fib used to gauge potential targets, stop's and entries on different time frames. Possible 140 Pips to final target, manage on lower time frames. If it breaks above 97.47's I'm not a buyer.
wait for a candle to close above the 0.97449 level to confirm breakout
Descdendent wedge on 4H frame. If price can't break support level, will rebound to the next resistance area. In addition indicators aproves that bullish movement with divergences.
Past few weeks the AUD pairs have tanked. We believe the AUDCAD will continue to drop after it breaks its current support level of 0.9703 area to drop down to next key support level of 0.9353 price area.
Talking Point: Technical Strategy : Confirming it's bearish outlook Elliottwave View : Reversal confirmed and counting impulsive waves Analysis We are tracking AUDCAD (australian dollar to canadian dollar) since last month. It was trading sideways from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We...
Keep an eye on this correlation setup over the coming days and weeks. The correlation is falling apart between AUDCAD & NZDCAD as you can see in the box on the right. You will notice the left box, when the spread got to approximately 400 Pips the correlation began to return, handing those in the trade a great return. The spread is currently approximately 200...