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Audcadlong

AUDCAD - Bullish BiasAUD - BULLISH 1️⃣ The RBA held the cash rate target at a record low 0.1%, kept the size of its A$200 billion bond-buying program, affirming its commitment to maintaining supportive monetary stance until at least 2024, while also signaling it is prepared to buy further bonds than its current $200 billion program if that helped lower the jobless rate and spur wage growth. 2️⃣ Job advertisements rose by 7.4% mom to the highest in twelve years of 190,542 in March, 10th straight month of gain. CAD - BEARISH 1️⃣ Concerns still exist about the prospect of producers returning significant amounts of crude to the market over the next three months. ===== Technical ===== - We are looking to buy the AUDCAD at RBS + above SMA 50 on the H1 chart. - RSI showed a bullish direction for this pair. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction.
Long
by MonsunAsia
AUDCAD Potential descending ChannelAUDCAD seems to be aligning for a potential long trade in the next few days/hours. The move could offer a decent r:rw however we need confirmation before committing. Analysis : We have many technical confluences from different timeframes here. Monthly: Even though last month closed as a strong bearish engulfing candle, price is currently re-testing the Monthly 50EMA and we can expect price to at least bounce off it. Weekly: Price is overall trending upwards, but we are currently in a pullback. This pullback is overextended and showing signs of exhaustion at strong dynamic support with the 50EMA on the way alongside an area of previous support and resistance Daily: Price has been on a bear trend for a long time but it's not showing bearish momentum as price becomes more and more corrective as it approaches key support at the 0.946 area. Intraday: Price is making lower highs and lower lows with decreasing momentum as it starts to show MACD divergence. We can see a forming structure which still needs more development. Trading idea: I will be waiting for price to create another leg short, then if price gives a proper rejection off the lower boundary of the descending channel/wedge in the intraday charts, I would go long with a very solid r:rw. A conservative target would be previous highs at the 0.956 area, however I think there could be potential for price to retest resistance at the 0.97 area. hope someone found this helpful!=) Let me know if you see something else in the chart
by Murci
Start dumping the CAD!! Long USDCAD, AUDCAD for 750 pipsSpeculators (Loonie longs) are starting to have a difficult time here to get any more skewed than they already are. (and all for what?!) Also, they are unlikely be able to take too much heat, in what is The Weakest FX (long) positioning in the civilized world, before a spectacular implosion. This one (title chart) is a severe liquidity issue, at best; The USDCAD Weekly; The AUDCAD Long is all about plain (insurmountable) capital flows - i.e. common sense;
Long
by Nemo_Confidat
AUDCAD facing bullish pressure | 25 Mar 2021Prices are facing bullish pressure as it broke out of our descending trend line resistance and are taking support on buy entry which coincides with 50% Fibonacci extension and 78.6% Fibonacci retracement . Prices might bounce towards take profit target which coincides with 50% Fibonacci retracement and 161.8% Fibonacci retracement . If prices push downwards, prices might take support from stop loss level which is in lien with -27.2% Fibonacci retracement an 61.8% Fibonacci extension . Stochastics is also approaching 4.51 level, possible for a bounce, in line with our analysis.
Long
by FXCM
6
AUDCAD facing bullish pressure | 25 Mar 2021Prices are facing bullish pressure as it broke out of our descending trend line resistance and are taking support on buy entry which coincides with 50% Fibonacci extension and 78.6% Fibonacci retracement. Prices might bounce towards take profit target which coincides with 50% Fibonacci retracement and 161.8% Fibonacci retracement. If prices push downwards, prices might take support from stop loss level which is in lien with -27.2% Fibonacci retracement an 61.8% Fibonacci extension. Stochastics is also approaching 4.51 level, possible for a bounce, in line with our analysis.
Long
by FXCM
9
AUDCAD facing bullish pressure, potential for further bounce!Prices are facing bullish pressure from 1st support level which is in line with 50% fibonacci extension and 78.6% fibonacci retracement . Prices might push up towards 1st resistance which is horizontal swing high resistance which is in line with 161.8% fibonacci retracement and 50% fibonacci retracement . If prices fall through 1st support, prices might take support from 2nd support which is in lien with -27.2% fibonacci retracement and 61.8% fibonacci extension . Stochastics is also approaching 5.71 level, potential for a bounce which is in line with our hypothesis.
Long
by TradeGATEHub
5
AUDCAD - SWING - 22. MAR. 2021Welcome to our weekly trade setup ( AUDCAD )! - 1 HOUR Market closed above main sr level. 4 HOUR Expecting strong bullish price action. DAILY Bullish market structure about to push towards previous highs. - FOREX SWING BUY AUDCAD ENTRY LEVEL @ 0.96530 SL @ 0.96150 TP @ 0.97070 Max Risk: 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Long
by DACapitalTrading
42
AUDCAD Long! 1H / 1:3 RRDear fellow traders! Ding Ding Ding, it’s money making time again! I’ve spotted a great setup here on AJ ! Here it is: Entry Level (Buy): at 84.360 Stop Loss: at 84.243 Take Profit: at 84.719 With this setup, we are risking 117 pips for the rewards of 359 pips! P/S: Please remember, trading is always risky, and if you don't have a proper money management, you are a gambler. We do not expect or hoping that market will go as per our plan. We just speculate, setup an entry level, and if the market goes our way, we make money. If it doesn't, it's still fine, there's always next opportunity. Good luck!
Long
by Hamim_Iskandar