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Buyers have taken charge and managed to push price beyond rejective resistance 9200 zone. After a strong bullish impulse, we now have price rejecting off the 50% fib with a bullish flag formation. All signs point upward for another bullish wave/continuation. Where do you...
Disclaimer:- Educational Analysis says AUDCAD may go LONG according to my technicals.
This is not an entry signal. I have no concern with your profit and loss from this analysis.
On 15 min timeframe pair is making lower high and higher high which make break of previous structure.
I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS.
ADDITIONAL CONFIRMATION IS...
H4 time frame.
AUDCAD broke the 0.92000 resistance.
Wait for the price to return to the 0.92000 retest area and appear a bullish pattern that can find buying opportunities.
Profit target is 0.93000 zone.
Wish you all have a good trading day!
After a strong consolidation, we can now see that the price managed to break out of the consolidation structure with great bullish momentum! I'll be looking for a long entry on a retest.
Support zone at 0.90940
Resistance zone at 0.92023 Fib level 38.20%
Plan A: One can take long position on the breaking of resistance zone at 0.92023 for the target of 0.92689 and 0.93163.
Plan B: On the breaking of support zone at 0.90940 one can take short position for the target of 0.90658.
Entry price: $0.9371
Stop loss: $0.9109
Observing the movement price on the chart, we can point out that there was a really downtrend and then, during the last few month, a new lateral range (range without any strong trend) is made up on the chart.
Looking at the price inside the range, we can find some information that suggests us that...
AUDCAD bounced from a major support Level on the Daily time frame, also broke the upper trendline of a descending channel on the H4.
We taking this trade based on technical analysis and price action.
(1) DO NOT ENTER ANY TRADE BEFORE THE ENTRY LEVEL
(2) USE YOUR STOP LOSS
(3) DO NOT HOLD A LOSS FOR MORE THAN 2 DAYS
Please use proper risk management depending...
I like the reaction that i see and the formation that its building. If tomorrow london session its holding the area then look price action for buy . Stoploss below the impulse. Also macd showing one more move to the upside.
Be careful to see strong break on the impulse on the left. Lets see!
It has been a while here! :) Hope you're all doing well.
AUDCAD rally from August low unfolded as a five-wave impulse structure and it follow by a three-wave correction. The correction unfolded as a simple zigzag with an ending diagonal pattern in wave C.
According to EW theory, once a 5-3 (impulse-corrective) wave cycle is complete, the price...
#AUDCAD As you can see the Bullish trend, Buy AUD. I already mention stop loss and take profit ratio in my chart. I believe this pair is going to shoot up. Might take some time but will get there.If you like my idea kindly follow me further updates. Thanks
If you are looking to scale in or open a position, I see a potential Head & Shoulders forming on the M30, signaling a potential end of the retracement.
This is not financial advice. Forex is a risky business. Trade at your own risk.
The Bank of Canada is holding its monetary policy meeting next week, and inflation indicators support the hawkish attitude of the central bank. Recall that markets are now pricing in a rate hike in April.
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AS the Canadian dollar was strengthening against the US Dollar, it was falling vs its commodity siblings
Aussie and kiwi. AUD/CAD Formed a low on October 11th near %(0.9105 testing the same lows from august 24th.
If price breaks above the September8th highs of $(0.9375), it will confirm a double bottom and target near $(0.9670)
Potential Long on AUDCAD