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Audcadshort

AUDCAD - Bearish BiasAUD - Strong Bearish 1️⃣ Investors this week are expected to be cautious ahead of the FOMC meeting and avoid putting money in high-yielding countries. 2️⃣ Recent disappointment in AU business and consumer confidence. 3️⃣ RBA minutes from the June meeting show that the board agreed it would be premature to consider ending the bond-purchasing programme and policy would need to remain highly accommodative to reach full employment. CAD - Weak Bullish 1️⃣ The Canadian central bank was the first among advanced economies to slow the pace weekly of government bond purchases, now traders expect the next taper to come at the next monetary policy meeting on July 14th. 2️⃣ Oil prices hit their highest since October of 2018, with WTI crude extending gains above $72 per barrel, supported by an improved demand outlook as an acceleration in COVID-19 vaccinations helped lift travel restrictions in Europe and the US. ===== Technical ===== We are selling the AUDCAD at the resistance + below SMA50 + at the pivot point on the H1 chart. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction.
Short
by MonsunAsia
AUDCAD potential for further downside beyond pivot, further dropAUDCAD is currently hovering above 1st resistance in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. If prices break through 1st resistance, a further drop is expected towards horizontal overlap support in lie with 50% Fibonacci retracement and 50% Fibonacci extension. If prices reverses from 1st resistance, prices might face resistance from 127.2% Fibonacci retracement and 78.6% Fibonacci extension. MACD is also showing a bearish crossover, showing a bearish pressure for prices.
Short
by TradeGATEHub
1
AUDCAD approaching 1st resistance, potential for a reversal!Price is approaching 1st resistance, in line with 50%, 61.8% Fibonacci retracement and horizontal pullback resistance, where we could potentially see a reversal and drop further towards 1st support, in line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support. Price is also holding below the Ichimoku cloud resistance, showing signs of bearish pressure as well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub
AUDCAD holding below descending trendline! Potential for drop!Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistances, in line with our bearish bias. We could potentially see a reversal at 1st resistance in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance, and further downside towards 1st support, in line with 61.8% Fibonacci extension and horizontal swing low support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub
AUDUSD TRADEAUDSD DAILY 1. Daily trend bias based on the 8/13 EMA is short 2. Last retracement zone at 0.5 qualifying for this to be identified as a wave 2 Daily timeframe 3.Economic news that may affect this trade is *Fed's Chair Powell speech on Wednesday 14/5/2021 and Australia's employment numbers on Thursday 15/4/2021 4. Extension zone 1.272 was hit Hourly Pattern is a 3 wave move 1. Previous move completed is A hourly with 5 micro sub waves. 2. Current move at B hourly Sub waves A was completed, so was B 3 wave move to a retracement zone of 0.5 15 MINUTE ***Wave to trade is sub waves of C micro--Wave 1 is completed awaiting retracement 2 AT 0.618 AS ENTRY 1.
Short
by Beclinks_Capital