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Audcadforecast

AUDCAD approaching major resistance, watch for a potential drop!AUDCAD is fast approaching major resistance at 0.9705 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 0.9644 (Fibonacci retracement, horizontal pullback support). Stochastic (89,5,3) is seeing major resistance at 91% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
AUDCAD right on pullback support!AUDCAD is now back to pullback support where it previously broke out from. A possible bounce could occur at this level above major support at 0.9782 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a rise towards 0.9876 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (55,5,3) is making a similar pullback to ascending support where a corresponding bounce could occur too. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
AUDCAD surpasses major resistance!AUDCAD has finally surpassed its descending resistance-turned-support line triggering a potential bullish move from here. Our main area of support remains at 0.9782 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could push price up possibly to 0.9876 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (55,5,3) has surpassed our descending resistance-turned-support line triggering a potential bullish exit from here. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
2
AUDCAD preparing for a strong bounce AUDCAD is seeing major support above our 0.9782 zone (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could occur above this level to push price up to major resistance at 0.9876 (Fibonacci extension, horizontal swing high resistance). We are seeing intermediate resistance with our descending resistance line and price would need to break past that level to gain further bullish momentum. Stochastic (34,5,3) is seeing major support above 1.7% support but also sees intermediate resistance with our descending resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
Short again at 0.9863 for target 0.9785 =80 pipsi short again the audcad last trade was winning trade,for this one same scenario i found that even aud is strong cad is undervalued also on h4 audcad is overbough and i see a rsi divergence in a time frame that i not remeber when i writting now What i target is a return on a ma20 weekly after a breakout short at 0.9863 target 0.9785 gain 80 pips For this trade i will open 2 x 1 lot 1 i will close it after 20-30 pips and the 2nd i will make a Sl at +10 pips..like that if i am wrong with my target i can secure 30-40 pips
Short
by corsicasia
AUD/CAD 1H Chart: Channel DownAUD/CAD 1H Chart: Channel Down The Australian Dollar is losing value against the Canadian Dollar in a short-term descending channel that staretd to form after a 39-pip depreciation of the Aussie last week. At the moment, the currency exchange rate is squeezed between the weekly S1 at 0.9941 and the monthly PP at 0.9930. Nevertheless it is expected to resume the fall, as the breakout to the northern side most probably will be neturalized by the 55-, 100- and 200-hour SMAs. The souther side, in turn, lacks any barriers up until the weekly S2, which is located at the 0.9901 level.
by UnknownUnicorn890690