Audcadprediction
DeGRAM | AUDCAD false break at the resistanceAUDCAD made a false break of the resistance level at 0.8950.
Since the market is in a bearish trend on the daily timeframe, we look for selling opportunities.
Price action is going to either consolidate or retest the support level.
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AUDCAD possible long for 0.9050#audcad, 4th July daily bar is inside bar range confined within the previous bar range. 5th July coiled bar broker inside bar high closed on the high. both bars are dictating strength ahead. 0.9030, 0.9055 and 0.9090 are resistance levels ahead. my view long for target 0.9050.
DeGRAM | AUDCAD selling on retracementAUDCAD is still in a downtrend on higher timeframes.
Price action created a complex pullback.
Currently, it is testing the psychological resistance level 0.91000.
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DeGRAM | AUDCAD sell pullback AUDCAD made lower lows, indicating a downtrend.
Price action is pushing down to test the major support level 0.89200.
An ideal entry is going to be to sell a pullback before the price continues moving down.
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AUDCAD SELL ON DIPS !!!as we see this pair has made a cup shape on 30 min TF
and it had done a fake breakout on 4H TF
a strong resistance has tested and fail to break so we are selling on dip is for big rewards with a small risk
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AUD/CAD - retesting double top neckline before move lowerAUD/CAD price action is currently in the process of testing a double top formation neckline. The double top for price is more clearly seen on the daily timeframe but the peaks have been pointed out on the image above. The fact that the double top has been created on the daily fills us with confidence that, for now, price has found an upper limit and is on it's way back down. Price closed below the neckline of this double top formation late last week, signalling a lower low. Today price is now retesting the neckline which we see as an excellent opportunity to enter short on this pair. Our price target will sit at the support level of 0.92371.
If price closes above the neckline on the daily time frame, this analysis will be invalidated.
AUDCAD approaching strong resistance. Currently retracing from 1.07 on 18/03/13
This pair has touched the 23.6 retrace twice since 14/04/2014.
Both times it has failed to break.
A clear rejection sign at this point (hopefully around the start of April), will be an excellent short opportunity till at least 1.0125.