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AUSTRALIAN DOLLAR / CAX

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AUDCAX trade ideas

Lingrid | AUDCAD breakout and RETEST tradeThe price perfectly fulfilled my last idea. FX:AUDCAD has broken and closed below the consolidation zone. The price is currently testing the resistance level around 0.91200, and it appears to be pulling back toward this level for a retest. The market is making lower lows and lower closes, which indicates a bearish dominance. I anticipate a break and retest scenario, where the price may pull back to test the resistance before potentially moving lower. This is a critical point to watch, as it could confirm the continuation of the bearish trend if the level holds. My target is support level at 0.90775 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
1
AUDCAD Outlook💹 Forex: 📉 Bearish Outlook: AUDCAD has been breaking into new lows on our 5hr, 30m and 5m time frame. Context time frame (5hr): Price has been surfing below the 10ema and is showing strength. Context time frame (5hr): Price has brokeup and made a valid pullback into the 10ema and has showed a valid pullback. Validation time frame (30m): Price is showing strength and surfing below the 10/50/200 EMAs. Validation time frame (1D): Price has brokeup into the 10ema/50ema and has showed a valid pullback. Entry time frame (5m): Price has brokedown below the 10ema/50ema and has showed strength. Entry time frame (5m): I am interested in price if we can re-distribute by coming back to the 10/50ema and then get our entry setup. Keeping an eye on this. 👁️
Short
by angelvalentinx
AUDCAD, A selling opportunity after a price retracement?I am looking to sell AUD weakness on the back of poor economic data against possible CAD strength. There may be a retracement back to a 0.618 Fibonacci level (on my chart) this afternoon on the Canadian interest rate announcement at 13:45 GMT. I intent to sell at 0.9125 SL at 0.9175 and TP at 0.9033. Long term Canada has a better economic outlook than Australia going forward with it riding on the back of the US economy doing better than China (China is a major trading partner of Australia). This is my view at the moment and could change after the BoC announcement or anything else for that matter. I see a similar selling opportunity with AUDJPY that I may post.
Short
by ratcatcher
1
AUDCAD - Bullish Surge InsightThe AUDCAD has regained bullish momentum following a break and retest of the neckline in its Head & Shoulders formation. This development suggests a potential buying opportunity may emerge upon a break above the previous swing high, with a stop loss strategically placed below the retest level. This setup aligns with the ongoing upward trend and offers a favorable risk-reward ratio for traders looking to capitalize on the renewed bullish sentiment.
Long
by AnalytixEdgeByQasim
AUDCAD - short (at least short-term)Please check my previous chart on AUDCAD to understand my main idea. I still remain cautious and believe that the bulls haven´t won the fight just yet. Short-term I believe we will go down for about a week until we will learn about the nature of the price action. Bearish case = We just finished a wave 2 and made the first 1-2 of a longer wave 3 down. Bullish case = We could have potentially several 1-2 setups on different wave degrees and we are currently in the 3rd 1-2 setup and price should continue into my green box. If the bullish scenario becomes reality we should see the price rising very strong after touching that box. So, short-term bearish for sure!!! Personally, I believe in much more downside but we have to follow the charts and listen to what price tells us.
Short
by Staggi10