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Audcadsetup

AUDCAD heading towards 52 week high AUDCAD The recent risk rally helps the Aussie dollar to gain some strength against its counterpart Lonnie From August 24 this pair is trading in uptrend and reached the current monthly high of 0.96511 The uncertainty in oil prices also weighing in CAD pairs and it's lose some gain against the strong risk proxy currency which is Aussie dollar After completion of Elliott correction wave 03 which is a current monthly low- 0.94197 this pair went bullish And trading above all the 50,100,200 Exponential moving average will further attract the buyers until 0.9700 which is a 52 week high and a major resistance zone And a supply zone The current monthly high-0.96511 which is a third wave of Elliot principal We can open suitable buy orders at 50% Fibonacci retracement level of third wave which is 0.95588. And a completion of fourth wave Potential take profit will be 0.96964 which is the level expected to be a end of 5th Elliott wave We have to see the bullish engulfing or rejection at 0.94600 level to buy this pair and descending channel got broken on August 26 which is a clear sign of bullish Trend Positive risk appetite will make this pair as more bullish, Have a eye on corona vaccine development and a relationship between USA and China Important key levels Previous week low - 0.94661 Previous week high - 0.96511 Monthly high - 0.96511 Monthly low - 0.94611 52 week high - 0.96964
Long
by forexorbit
2
AUD/CAD W Pattern on Daily TF Hello Traders, Buyers may enter into action near 0.618 fibonacci after the formation of a W pattern with 0.38 level testing partially failed going to look for a good support. Open position and take profit are shown on the chart ( green lines ) If you agree with my ideas put a like and feel free leave a comment to link your trading ideas. Follow me for weekly analysis of swing trading support/resistance , fibonacci retracements, COT data. For informations feel free to contact me. Thanks for your support and let me know what you think! My analysis are for educational purposes only, and in no way represent a solicitation to invest in the financial markets. Compare them with yours and make a decision.
Long
by AidiDuhanxhiu
AUDCAD - BEARISH BIASAUD - BEARISH 1️⃣ Australian economy shrank 7.0% on quarter in the Q2 2020 after a 0.3% fall in Q1, posting the largest quarterly contraction since the record began in 1959 and entering the first recession in 30 years. 2️⃣ Investors also moved into the US Dollar on hopes for a rebound in economic activity following better-than-expected U.S. manufacturing activity data. CAD - BULLISH 1️⃣ CAD boosted by upbeat PMI data, higher oil prices and a weaker dollar. The latest PMI data showed Canada’s factory activity grew for the second straight month and at the sharpest pace in two years as market conditions strengthened following coronavirus lockdowns and rising hopes of a post-pandemic economic recovery. 2️⃣ Oil prices was supported by a bigger-than-expected draw in US crude stockpiles. ===== TECHNICAL ===== - We're looking to short AUDCAD on pivot point level + SBR level on H1 chart. - AUDCAD in bearish zone.
Short
by MonsunAsia
AUDCAD, daily timeframe, bullish divergence materializedHello my friends, There is a bullish divergence on AUDCAD pair and i've spotted this divergence since 2 days ago. It finally materialized as price also broken above the descending trend line. Noticed also price above the support i marked and ichimoku cloud so this pair is bullish in general. I am currently buying AUDCAD from 0.9500 as per this writing. Buy AUDCAD 0.9500-10 Stop loss 0.9410 Take profit 1 @0.9590 Take profit 2 @0.9680 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
AUDCAD short for 220 pipsHello traders, As we have witnessed a sizable pushup on this pair in recent week and the pair is consolidating at a major level and a flag pattern is appearing. This pair recently has broken the trendline as well. Even if it want to push higher up it needs to retest the trend line at a support level to gain more strength. On the daily timeframe there is every opportunity for this pair to push down and touch the trend line before deciding its fate. I have therefore marked the entry position, sl and tp as well. Let me know your toughts. Trade safe and good luck.
Short
by BannaKhan
1
AUDCAD going downThe price has broken the last higher low and that makes me think that the price will go even lower, the ema 89 is currently above the price but before jumping into conclusions I will wait for a better confirmation before entering on a sell. . . . . . El precio rompió el alto mas bajo anterior lo cual me hace pensar que el precio va a bajar aun mas, la Ema 89 esta justo en el precio en este momento, pero yo voy a esperar una mejor formación de velas que me demuestren que el precio bajara mas.
Short
by anaju17
AUDCAD - BEARISH BIAS.#AUD - Bearish Mode Recap: 1️⃣ Aussie down because of the rising COVID-19 cases in Australia,disappointing business confidence data and global risk sentiment moved towards negative. 2️⃣ U.S.-China tensions were once again a focus after China ordered the closure of a U.S. consulate in Chengdu and US Secretary of State Mike Pompeo urged China’s citizens to help ‘change the behaviour’ of their government. Review: 1️⃣ Australia CPI For Q2 - Bearish prediction — Dropped in consumer inflation expectations in Q2. 2️⃣ 2nd quarter GDP figures from key economies, COVID-19 news, and geopolitics will remain the key drivers. A jump in new COVID-19 cases and deteriorating relations with China would likely test support for the Aussie Dollar. ===== #CAD - Bullish Mode Recap: 1️⃣ Retail sales bounced back from April’s slump, with inflationary pressures picking up in June. 2️⃣ Crude oil prices also headed northwards in the week, providing the Loonie with support. Review: 1️⃣ Canada GDP for May - Bullish prediction — Stronger trade balance and retail sales.
Short
by MonsunAsia