AUD/CAD slump post dismal Australia's CPI data on Wednesday saw the pair break below strong 200-DMA support at 0.9692. Bearish bias in the pair has risen and momentum studies heavily tilted to the downside. Major moving averages are biased lower, RSI deeply in oversold zone and MACD points south. Downside finds next major support at 0.9434 (Nov 17th lows),...
Canadian Dollar Currency Strength: Very Strong (positive order flow)
AUD/CAD has broken strong trendline resistance at 0.9825, momentum is bullish. Better-than-expected Australian employment figures support upside in the Aussie. Data should lower the odds of further cuts by the Reserve Bank of Australia. The Australian Bureau of Statistics reported an Australian employment change s.a. of +26.1K in March, above forecasts of +17k,...
AUD/CAD has broken range trade and price action has slipped into the daily cloud, hit session lows at 0.9788. Downside in the pair has found support by cloud base at 0.9787, breaks below will test next support at 0.97 (rising trendline). Resistance on the upside is located at 0.9864 (5-DMA) ahead of 0.9884 (cloud top). Recovery in crude oil prices likely to...
AUDCAD has had a relatively strong support (yellow line) last year, 2015, and it was violated only once, 26 Feb this year, and it lasted for a week. After the retracement there was a period of bullish trend which finished on 9 March when AUDCAD met a strong resistance level at 1.00500. Bullish trend continued up to the moment when AUDCAD hit our strong SUPPORT...
Is that a rhetorical question? ;) Even if price retraces to the downside in the near term, I am a Bull over the long-term plus it looks like a bullish Inverse H&S formation which are extremely powerful and reliable even before breaking the neckline as you can clearly see the increasing momentum. If you trade the Kiwi/CAD then for the long-term look for the exact...
-AUDCAD seems to have broken out of its bearish trend due to interruption of setting lower lows . -Watch out for the bounce off of the 0.618 fib level for a good entry Suggested entry 0.99500
Here is a great setup for AUDCAD, I am waiting for a break of the 2-4 line to enter a long position. A less probably scenario is highlighted in grey.
AUD/CAD has broken strong trendline resistance at 0.9912 in Tuesday's trade and has closed above. The pair has also broken above next strong resistance at 0.9990 levels (double top 17th Dec and 28th Jan). Momentum studies are bullish, close above 0.9990 could take the pair to 1.0085 and then 1.0110. Supports on the downside are located at 0.9960 (Jan 20th...
AUD/CAD has taken channel base support at 0.9615 and edged higher to currently trade at 0.9705. RSI has turned North from oversold levels and daily Stochs has shown a bullish crossover. Price action is however below the cloud, with cloud base at 0.9741 offering strong resistance on the upside. Breaks below channel base at 0.9615 cloud see next support at 0.9596...
GARTLEY PATTERN PAIR: AUD/CAD TIME-FRAME: 1HR TRADE: POTENTIAL GARTLEY PATTERN One of the many pairs we will be going over in the Live Trading Room today. NOTE: These are potential trade opportunities. Please re-analyse the trade before executing. Star Prosper Philip Stewart WEBSITE: www.StarProsper.com FACEBOOK: facebook.com ...
-Firstly as we can clearly see we are in a down trend channel formation -We have had multiple bounces from the Top trend line which is now acting as Support -we formed double top on the 30H chart -We have also priced in lowers lowers Remember History repeats itself GoodLuck everyone
GARTLEY PATTERN PAIR: AUD/CAD TIME-FRAME: 1HR TRADE: GARTLEY PATTERN Looking at potential Gartley Patterns on the AUD/CAD 1HR time frame. NOTE: These are potential trade opportunities. Please re-analyse the trade before executing. Star Prosper Philip Stewart WEBSITE: www.StarProsper.com FACEBOOK: facebook.com YOUTUBE: www.youtube.com
AUD/CAD extends higher after taking support by trendline at 0.9860, we see scope for further gains. Price action is above the daily cloud and 200-DMA, cloud top at 0.9874 also offers strong supports on the downside. Technically, RSI points north, while daily Stochs have bounced off from 20 levels and biased higher. Brent oil is slipping on the day after four...
Short AUD CAD, it's not too late from this level. Targeting 50% retracement. SL: 1.011 Target: 0.973
Should expect a pull back to the .5 followed by a rally to the 1.618 extension
VERY STRONG WEEKLY RESISTANCE STOP 0.98500 TP 0.94200 RISK/REWARD 6.69