AUDCAD trade ideas
idea on a charthe Canadian dollar pared earlier gains against the U.S. dollar on Tuesday as oil prices fell and domestic inflation data supported expectations the Bank of Canada would cut interest rates further next month.
The loonie was trading nearly unchanged at 1.3630 per U.S. dollar, or 73.37 U.S. cents, after touching its strongest intraday level since July 11 at 1.3606.
Canada's annual inflation rate cooled to a 40-month low of 2.5% in July, matching forecasts, and core inflation measures eased.
"Today's CPI print should be enough to quell concerns about sticky inflation pressures in Canada after two marginal upside surprises in May and June," Claire Fan, an economist at Royal Bank of Canada, said in a note.
"The hurdle for more BoC cuts this year is low and we continue to look for another 25 basis point cut at their next meeting in September."
AUDCAD Short PositionSeasonality Analysis: Historical data suggests a bearish seasonality for AUDCAD during this period, indicating a higher likelihood of downward movement in the pair.
RSI Bearish Divergence: The Relative Strength Index (RSI) is showing a bearish divergence. This occurs when the price is making higher highs, but the RSI is making lower highs, signaling that the upward momentum is weakening and a potential reversal is likely.
AUD/CAD Confirmed for Bearish as correction wavego short now
or
keep your trade online if you short brefore
- price make lower high at green arrow
- price make lower low at red arrow
- price break current support area at H1 Time frame and retested it
this confirm that correction wave will be valid until reach to profit levels
have fun :)
AUDCAD Long Market structure bullish on HTF DH
Entry at Daily AOi
Weekly Rejection at AOi
Strong Weekly bullish Engulfing candle
Daily Rejection at AOi
Daily EMA retest
Previous Daily Structure point
Around Psychological Level 0.91000
H4 Candlestick rejection
H4 Rejection from Previous structure
Levels 4.64
Entry 90%
REMEMBER : Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Christ is King
AUDCAD Burgain Hunting LongAUDCAD Burgain Hunting Long
- Price is trending above 15 period Hull Moving Average
- Burgain Hunter entry
- MA Angle Trend Filter Confirmation
- Basic R:R 5:1 and then adding with 1%
- Adding to trade 4 times at 1 R Distance
- Closing all trades at Final Target - Strong Resistance Level
- Cut losing trade on first Bearish Candle
The ultimate goal is to make the system simple and easy to follow, simple rules, buying discount and selling premium. Cutting losers short and making maximum from winners. Cheers.
AUD/CAD For Bearish as Correction Wavego short now
- General Trend is Up Trend
- Current wave is correction wave
- price will retracement until fibo levels 50:61.8
- so you can go short with low lot because you walk against the up trend and out when you see price action at area 50:61.8 fibo levels
have fun :)
Picture perfect setup on AudCadfirstly we had an fvg from monthly chart where jul month candle has retested it
on the following lower time frames we can se price first trapped the early long players and came upto the mid line of fvg
the three candle as red impulse to down side then a doji followed by green big bar is sight indication of long build up
if so,
the current running candle can retest the doji candle high where we can put the buy order and recent low as our stop loss strictly
0.9800 >> 0.9115 >> 0.953
could be the potential target
Could price reverse from here?AUD/CAD is reacting on the pivot which acts as a pullback resistance and could drop to the 1st support which has been identified as a pullback support.
Pivot: 0.91810
1st Support: 0.91075
1st Resistance: 0.92467
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