AUD/CAD has consolidated in the 0.98 area for the past 2 weeks and does not seem to want to go back down.
This could potentially very well be a bullish continuation pattern if the current support holds.
We can expect it to go up at least 100 pips as soon as it breaks upward.
As always, I would like to remember you that risk management is key in success in this...
AUDCAD is now back to pullback support where it previously broke out from. A possible bounce could occur at this level above major support at 0.9782 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a rise towards 0.9876 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (55,5,3) is making a similar pullback...
AUDCAD has finally surpassed its descending resistance-turned-support line triggering a potential bullish move from here. Our main area of support remains at 0.9782 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could push price up possibly to 0.9876 resistance (Fibonacci extension, horizontal swing high...
AUDCAD is seeing major support above our 0.9782 zone (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could occur above this level to push price up to major resistance at 0.9876 (Fibonacci extension, horizontal swing high resistance). We are seeing intermediate resistance with our descending resistance line and price...
i short again the audcad last trade was winning trade,for this one same scenario i found that even aud is strong cad is undervalued
also on h4 audcad is overbough and i see a rsi divergence in a time frame that i not remeber when i writting now
What i target is a return on a ma20 weekly after a breakout
short at 0.9863
target 0.9785
gain 80 pips
For this...
short at 0.9830 for target 0.9780 =50 pips
i bet again on a correction as cad is undervalued and audcad much overbought even he just broke his ma20 weekly ,the candle is not finished
i go on 2x1 lot when 1 lot will reach 25 pips i will close it and let the 2nd with a SL at +10 pips for secure 35 pips
AUD/CAD 1H Chart: Channel Down
The Australian Dollar is losing value against the Canadian Dollar in a short-term descending channel that staretd to form after a 39-pip depreciation of the Aussie last week.
At the moment, the currency exchange rate is squeezed between the weekly S1 at 0.9941 and the monthly PP at 0.9930.
Nevertheless it is expected to...
Hi guys,
A typical pattern appeared again: The Australian Dollar is showing exhausting and a possible trend reversal is on the way.
A double bottom appeared with an RSI divergence. I will wait until the candles break the 20 SMA and close above it in order to enter.
This analyzis has been done on the 4H chart.
Thank you for reading :)
Ray
Entry 0.99192
Stop loss 0.98592
You could enter a bit earlier since in both cases price didn't reach all the way there, so maybe enter at 0.995 if risk-averse and don't want to miss your chance.
Sorry this is one I forgot to add in this morning, I've already entered on AUDCAD but there is an opportunity arising to jump in soon.
30M has completed a Bullish Golden Crossover (EMA50 Above EMA200) and we are seeing the 1H chart is now preparing to cross over.
Price broke out of the short term bearish downtrend above the trend line and heading towards first...
