Bear Flag on Bear Flag, Reversed off .5 Fib, Possible AB=CDAUDCAD is presenting us with an opportunity to sell the breakout of a bear flag . We have multiple other signals that suggest further bearish movement:
1. Reversal off .5 fib retracement
2. Smaller broken and retested bearish flag inside of the larger channel.
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Aud-cad
USDCAD Approaching Resistance, Prepare For A ReversalUSDCAD is approaching its resistance at 0.9431 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.9319(38.2% Fibonacci retracement, horizontal overlap support).
AUDCAD Approaching Resistance, Prepare For A Reversal
AUDCAD is approaching its resistance at 0.9364 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.9328(23.6% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected
AUDCAD approaching big resistance, potential reversal!Price is approaching our first resistance (pullback resistance, 61.8% Fibonacci extension) where we might see a drop to our first support (pullback support, 50% Fibonacci retracement). Stochastic is also approaching resistance where we might see a drop in price. Stochastic is also approaching resistance.
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forexTrdr AUDCAD LOOKING INTERESTING AT SUPPORTAfternoon traders,
Looking at Aussie dollar versus Canadian dollar as it trades around support levels from early March whilst matching up with extreme oversold levels on both RSI and stochastics.
Additionally the move lower appears to be running out stream here both on volume and on price action with the pair sticking in a 30pip range for the past 24 hours.
Our trading view chart should explain our view perhaps better than our description here. We are very mindful of the risk of Trump hitting twitter again with further hard ball talk around China and so we are positioning our lot sizes accordingly.
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