Hey Traders, in the coming week we are monitoring AUDCAD for a selling opportunity around 0.89400 zone, AUDCAD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.89400 support and resistance zone, i would also keep an eye on the stock market to confirm the bias as AUDCAD does correlate...
AUDCAD is currently trading around the 0.91 regions after it found support in early December at the 0.897 level. This has been an increase of the price of about 1.5%, but it has been unable to push past the resistance zone of 0.913. On the 4hr time frame, the RSI indicators are currently in overbought levels of 95.3 which indicates that the buying pressure may...
AUDCAD has seen some solid movement to the upside this morning, with the price increasing by just under 0.4%. This movement happened when the price came down and reached a confluence zone where price has reacted too in the past. On the 4hr chart, the RSI levels are very overbought and have just crossed, indicating a drop-in price is likely. The initial target for...
As we transitioned to the month of December, price failed to breach a previous high at a structural level.
Daily TF will be attached below, but we're seeing price continued to hold resisted.
This particular recent level provided a rejection signal that price was unable to sustain when it attempted to trade higher. Bit of illiquidity going on as bids quickly...
AUD/CAD SELL
3rd touch on the bearish trend line which also coincides with the daily support/ resistance level (in this case resistance).
I am entering a sell position and hoping for price to reach the 0.88992 area
AUD/CAD has been trading in this channel on the 1hr Renko ATR chart since mid March. I can see a short coming of around 250 pips. Nice divergence set up also on the 15 min Renko ATR chart.
Good luck, stay safe, stay at home and protect lives. ## Happy trading
4H AUDCAD
Waiting for the support line to be either rejected or broken.
Wait for the signal! For me, it is too early to entre. Better safe than sorry!
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Aud Cad just touched for a second time a flip zone which was already a point of a drop ...can we see a second reaction now...
depending on daily close i would consider a short position here..
Plan B in case of a clear upward break we look for retest of flip zone to get into a long ...
I prefere the short for now ..
have great Hallllloooweeeeennnn everybody ! ...
