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Audcadtrade

AUDCAD long trade signal - multi-timeframe analysisthe complete setup for AUDCAD in the monthly time frame and following the strategy about support and resistance strategy. we found the price moving in the down channel but there is a historical important support area in the monthly timeframe, so we should respect it. in the weekly timeframe, we couldn't admit that the price rejects the support area so we moved to the daily chart. we found a strong uptrend and that trend is broken trying to reach the bottom of the highest high of the uptrend and that is what the market did. so from this point, we are expecting the price will reject this area after the backtest and going up. moving to the COT report we found a huge volume for selling CAD currency, so we decided to buy AUDCAD. TRUST THE PROCESS #EG-Finance
Long
by UnknownUnicorn9076755
2
AUD/CAD Multi-Timeframe analysis (08/03/2021)Hi Traders AUD/CAD Multi-Timeframe analysis (08/03/2021) H1 Chart (Strong Down) The market is approaching the resistance at 0.97252 . We are waiting to see reversal signals in order to reinstate SHORT positions. Next important resistance is the 0.98225 level. Support & Resistance 0.97016 0.97252 0.96877 0.98225 0.96641 0.98733 H4 Chart (Bearish) Target 1 at 0.97224 has been reached. We closed 50% of our position and have moved the stop loss at the lock-in-profits level at 0.98522 . Provided the market conditions will remain the same Target 2 will be reached soon. Support & Resistance 0.98208 0.98711 0.97874 0.98975 0.97224 0.99371 Daily Chart (Neutral) Conflicting technical signals are indicating towards an unstable market, cautioning us to remain neutral and wait for a stronger trend to develop. Support & Resistance 0.97057 0.97130 0.96164 0.98993 0.95483 0.99921 Weekly Chart (Strong Up) Waiting for a retracement lower towards the 0.96954 support level, in order to reinstate LONG positions. Next important support is the 0.92464 level. Support & Resistance 0.96954 0.99921 0.92464 1.04093 0.91493 1.11412
Short
by Avramis
AUD/CAD Retrace To SupportThis is just short of the TP I set on this pair in my previous post but personally I have closed the trade, I think this is going to retrace soon as it is now overbought on 4HR and daily timeframes. It may still hit that TP but I prefer to secure the profit as a lot of AUD pairs are looking overbought. So now I will monitor this pair for a retrace to the support area highlighted. If there is a rebound from there a long can be taken to either the previous TP at 1.0000 or a new high of 1.00482. There is a lot of resistance in the red area marked above so I am setting the TP reasonably low as this could have a fairly big rejection considering how sharp the rise has been
by olly48
AUDCAD exhibits series of bearish signAUDCAD Is gradually declining within a downward channel and we can see the slowing of bullish momentum around 0.96500 and started its downward journey. After some minor fall another rising channel was formed and its collapsed towards 0.94000 and managed to reach around 0.96000. For the past two days its in uptrend as the CAD is relatively weak against AUD AUDCAD managed to reach around 0.93500 level. I am expecting AUDCAD will fall from 0.94000 level and will reach the 0.92000 area which is a key psychological level and lower trend line area Give us a like if you found useful
Short
by forexorbit