Here we have AUDCAD with a possible LONG.
There is an expanding triangle that has just hit the 5 count.
It is also at a support zone just below a long standing range.The previous buyers have just been taken out -some would call this bear trap.
If you're not already in we should be looking for the LONG to get back into the range and looking to test the $1 mark.
AUDCAD is currently taking support on daily and had broken the bearish trendline earlier. The pair can potentially move upward from here and test the resistance area of 0.93700 and then move upwards from there. Contrarily breaking of daily support of 0.91150 will make the pair bearish again.
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The AUD/CAD has started what seems to be a Bearish movement back in September and it doesn't look it's going to stop any time soon.
The pair is had a small push-up 2 days...
AUDCAD Buy midterm opportunity. Price is approaching the daily OB, where we should see the reversal to the upside. EQL's formed on a daily chart providing an additional liquidation zone before the reversal.
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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...
last day's price makes a significant downtrend by bouncing the resistance line down and now the price already breakout of the resistance line which means it will go uptrend. Retest has created and nice candle confirmation has created, you can see at the 1H timeframe same structure are created.
audcad buy :
1)based on my fib levels it will retest and will bounce up
2)due to news it gave a huge bullish momentum and will continue the same for next day
so we can expect a bull candle in 1D tf tomorrow
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AUD_CAD is retesting a long term falling resistance. And given that the pair is in the downtrend. I think that we will see at least a local pullback. From the level and a move down. SHORT🔥
AUDCAD has reached the weekly support level. As you can see on the chart, this level has already worked out as a resistance level. The level is very strong. The nearest target is 0.9300, then 0.9650
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The Price move near the key level support, and the falling wedge perform, let's take a look for a view days if the price can push through the trend line, then we have an opportunity for buy entry.
Trigger Reached .
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Price is currently trading within and continuing to form a decending widening wedge (which still hold even on the D1). I made a further analysis on the H4 and foound that price has formed a decending widening wedge too. We are currently nullish from a second resistance trrendline touch. I believe price will continue long until it gives us the third touch on the...
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