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Audcadanalysis

AUDCAD possible drop to support levelCurrency Pair : AUDCAD Possible direction : Bearish Technical Analysis : Price has formed a double top on the daily timeframe and broken out of this double top. Tested the previous support as resistance and rejected to the downside signaling possible trend change. As from daily price action, we see possible support turns resistance and highly likely price will continue to drop after testing the previous support as resistance and a sell trade is highly probably from this high area of value. Possible trade recommendation : Bearish as per chart sketch Press like button if you enjoy. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. It is EXTREMELY LIKELY that you will sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses. Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown. You acknowledge and agree that no promise or guarantee of success or profitability has been made between you, and Forex Trading Wizard. Do your own research and talk to a professional financial planner in order to be aware of all the risks associated with foreign exchange trading and investing and seek advice from an independent financial advisor before risking any capital.
Short
by ForexWizard01
1
AUD/CAD (11/02/23) Weekly Chart - Bulls controlAt present, the bullish trend in the AUD/CAD currency pair appears to be strong and unrelenting. The market is approaching a supply zone with an inducement, which could potentially provide a good selling opportunity. The presence of gaps in the market supports this possibility. Despite the bullish trend, the I believe that it would be beneficial to wait for a dip in the price before making a purchase. The liquidity at the bottom of the range, combined with the potential for lower prices, suggests that there may be a chance for a more advantageous buying opportunity in the near future. I wishes everyone good luck and a profitable week ahead in the foreign exchange market.
Long
by ANGBlack
AUDCAD Trading Plan - 7/Feb/2023Hello Traders, Hope you all are doing good!! I expect AUDCAD to go Down after finishing this correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Short
by For3xScalper
AUDCAD : Bull tunnel entry post 9 week breakout up! 30.5Simple technicals combined with a broad perspective. 1) Resistance trend-line ongoing since April 5th was broken 24th may, indicating bull trend initiating. 2) Since breakout, connecting lows and highs are parallels indicating a consistent up-trend in the shape of a tunnel. The range of the tunnel is 0.980 to 0.916 , current rate is 0.911. A break below 0.980 with a daily close would confirm downside potential to 0.9000. So buying now and placing a stop lower than 0.980 is the first option with a TP at 0.916. Second option is to to wait for a 4h candle close break above 0.916 and TP at 0.9222 with a SL back below at 0.9135. --------------------------------------------------------------------------------------------------------------------- I hope you this was helpful! If you found that it was, please like and follow! Would truly mean a lot. Thank you so much for reading - I encourage you to ask questions, make comments.. I promise to reply to each one. I am not a financial advisor and it's best to make your own research and trade cautiously. ----------------------------------------------------------------------------------------------------------------------
Long
by Exactus
7
#AUDCAD SHORT TIME -TODAY 2023.2.4And in the last stage, we have the 45-minute time check: We are now on the reciprocal completion area around 0.92559. The ranges between 0.92559 and 0.91923 can be considered as areas for correction, and all the decreasing targets from the return range to 0.93234 can act as resistance areas in correction, generally they cover 50% of their sharp movements. The major wave in the 45-minute time period is a decrease and any rise is only until the correction is confirmed. If the upward wave is corrected, we can expect a decrease to the range of 0.91512 and then an important static range overlapping with the corrective fibo in the area of 0.90925.
by maryammh
5
AUDCAD SellGood day everyone! Don't forget to put your thumbs up and write comment if you like the idea. AUDCAD sell 0.94365 and 0.94837. SL 0.9600. Risk 1%. Sale from monthly and weekly target area. In the week they came for a test of the upper edge of the balance sheet , and in the week for commercial interest for sale. First Target Standard, Global Target Return to Area 0.92710. DISCLAIMER: The opinion of the author may not coincide with yours! Keep this in mind and consider in your trading transactions before making a trading decision.
Short
by airstels
1
DeGRAM | AUDCAD target for longAUDCAD is currently trading in an ascending channel. The market pulled back to the support level, which is the confluence zone . Notice, price action approached the level by printing small candles with deceleration, indicating that there's no strength.  Price action is likely to pullback to the support level and go up if price makes a false break. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Long
by DeGRAM
10