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Audcadllong

AUDCAD POTENTIAL BUY - IF RETEST AND REJECTION OF KEY PRICE As you can see from my previous analysis, I prefer multiple confluences on the chart as this gives a better opportunity to be accurate when trading. From the chart I see a Head and shoulder pattern and assuming this is correct then it may go the distance of the size of the head of the pattern, as it does usually with most H&S patterns. The most surprising aspect of this is that, this is the distance to the most recent strong price level. Assuming it retests and rejects this then it may be a tremendous opportunity to buy AUDCAD, which is currently in a uptrend based on the weekly charts. *NOT FINANCIAL ADVICE, MERELY AN OPINION*
Long
by Trader856
2
AUDCAD - LONG; LongtermHere the upward sloping channel is indicative of the relative and ever increasing deterioration of the Royal Bank of Canada's balance sheet relative that of the Royal Bank of Australia's. - A significant and still increasing fiscal power versus new debt issuance capacity, advantage RBA. This unlikely to change anytime soon - i.e. for years if not more. Naturally this relationship remains entirely dependent on China's economic status, at any give time.
Long
by Nemo_Confidat
AUDCAD approaching support, potential bounce! AUDCAD is approaching our first support at 0.9485 (horizontal overlap support, 38.2% fibonacci retracement, 61.8%, 100% fibonacci extension) where a strong bounce to our major resistance at 0.9524 (horizontal overlap resistance, 50% fibonacci retracement) might occur. Stochastic is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by easyMarkets
AUDCAD approaching support, potential bounce!AUDCAD is approaching our first support at 0.9388 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level, pushing price up to our major resistance at 0.9441 (horizontal overlap resistance, 61.8% Fibonacci retracement). Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by easyMarkets