Symbol: AUD.CAD - Australian Dollar / Canadian Dollar
Predicted Direction: Long
AUD.CAD - Australian Dollar / Canadian Dollar updates will be available in the comments section below as price-action develops.
- The pair extends gains above 200-DMA
- Breaks above major trendline resistance at 0.9540
- RSI above 50, bias higher
- Stochs sharply higher, momentum bullish
- Monthly New Housing Price Index (NHPI) from Canada
- Speech from Bank of Canada’s (BOC) governing council member Carolyn Wilkins at the World Bank’s panel discussion.
Support levels -...
Hi traders! When we look at AUDCAD on the 4H charts, we can see a very nice downtrend. In fact, this trend has been going for so long that it has been very overextended when we use Fibonacci extensions! The longer a trend moves on, the bigger the potential chances of a reversal happening and right now, it looks like we might have arrived at a support area that is...
Hello Traders, welcome to the Daily Forex technical analysis. Today is April 16th, 2019 and we will be taking a look at the Australian Dollar against the Canadian Dollar. Looking at the 4 hour time frame, we are looking for a retest of the .95689 area to look for possible long entry. Entry for a Long position near the .95689 area, with a Stop Loss near the .95512,...
AUDCAD is approaching our first support at 0.9485 (horizontal overlap support, 38.2% fibonacci retracement, 100% fibonacci extension) where a strong bounce to our major resistance at 0.9524 (horizontal overlap resistance, 50% fibonacci retracement) might occur.
Stochastic is also approaching support where we might see a corresponding bounce in price.
AUD/CAD is extending gains above 110-EMA and is on track to test 61.8% Fib.
The pair has broken out of daily cloud and major trendline resistance at 0.9515.
Technical analysis is bullish. RSI is above 50, bias higher. Stochs show bullish momentum.
Next immediate resistance lies at 55W EMA at 0.9574, breakout eyes 76.4% Fib at 0.9658.
On the flipside, retrace below...
Weekly: 3 waves completed and I expect to see wave 4 complete to the upside.
Daily: The corective structure broke to the upside indicating that wave 4 is taking place.
H4: The corrective structure has broken to the upside. I am looking for an...
AUDCAD is approaching our first resistance at 0.9487 (horizontal swing high resistance, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong drop might occur below this level to our major support at 0.9423 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (21,5,3) is also approaching resistance where we might see a...