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Audcadanalysis

AUDCAD Moving Towards 78.6 Fibonacci Level!!!AUDCAD has shown great bearish momentum after a huge climb previously. After which, we managed to see a strong BEARISH retracement. Has the bearish strength come to a stop? No, personally, I will be eyeing 78.6% fib level where will be a minimal retracement. Definitely, if we managed to see a breakout of that level, BEARISH strength could be heading all the way to 161.8% fib level. Having said that, I am still BEARISH on this pair and has yet to see any form of BULLISH strength taking over as of now. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
AUD/CAD Multi-Timeframe analysis (08/03/2021)Hi Traders AUD/CAD Multi-Timeframe analysis (08/03/2021) H1 Chart (Strong Down) The market is approaching the resistance at 0.97252 . We are waiting to see reversal signals in order to reinstate SHORT positions. Next important resistance is the 0.98225 level. Support & Resistance 0.97016 0.97252 0.96877 0.98225 0.96641 0.98733 H4 Chart (Bearish) Target 1 at 0.97224 has been reached. We closed 50% of our position and have moved the stop loss at the lock-in-profits level at 0.98522 . Provided the market conditions will remain the same Target 2 will be reached soon. Support & Resistance 0.98208 0.98711 0.97874 0.98975 0.97224 0.99371 Daily Chart (Neutral) Conflicting technical signals are indicating towards an unstable market, cautioning us to remain neutral and wait for a stronger trend to develop. Support & Resistance 0.97057 0.97130 0.96164 0.98993 0.95483 0.99921 Weekly Chart (Strong Up) Waiting for a retracement lower towards the 0.96954 support level, in order to reinstate LONG positions. Next important support is the 0.92464 level. Support & Resistance 0.96954 0.99921 0.92464 1.04093 0.91493 1.11412
Short
by Avramis