The market of AUDCAD takes support and now moving upside. I believe the journey of Bullish momentum will remain continue. Better to look buying opportunity on it.
AUD-CAD is retesting a resistance cluster AT 0.9080
Which makes me bearish biased on the pair
And as we are already seeing some bearish price action
I think that the next move will be downwards
To retest the target level below AT 0.8890
Market is in overall downtrend, but in 1h timeframe market started a correction upwards and broke corrections structure downwards, now we are waiting for a price fall till POC level.
Entry: 0.89949 (Point of structure break)
Invalidation: 0.90140
Target: 0.89491 (POC)
Yellow: Open Position
Red: Trailing Stop Loss
Green: Take Profit
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AUDCAD has straddled a 6.8% price corridor since the start of the year, giving us, at first sight, a bearish bias considering the bearish trendline identified on the daily timeframe. However, the appearance of a reversal structure and breakout out of structure signal on the 4H timeframe; the possibility that price might break out of the bearish trend line the...
When it comes to the technical analysis of AUDCAD , you might get an impulse to the downside. Based on my technical analysis , there aren't many supports till the Target 1. So you may use this as a sell opportunity. If you are going in, better find a pullback. I have marked a good entry area on the chart; you may use it as an entry area; which used to be a...
✅TP - green lines
❌SL - red line
EP - start of yellow line
Original Analysis
Channel Down identified at 21-Apr-23:30 2022 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.91709 within the next 2 days.
Support Levels
0.91700
Resistance Levels
0.93400
This does not constitute investment advice and does...
With the current structure, the Aussie appear to extend gains above 0.95 in the coming week(s). As of the time of publication, a reversal set-up has been identified within the demand zone at the 0.934 area where we shall be looking for a signal to buy at a breakout of the key level which also serves as the neckline of the reversal structure.
Risk...
A potential bullish momentum is identified within a critical supply zone.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and...
AUD-CAD broke the rising trend-line
Then went up to retest the broken level and horizontal resistance at 0.94300
From where I am expecting a local bearish reaction
And a move down to retest the target below 0.91700
The scope of a very strong bearish momentum on the daily time frame and a reversal set-up (double top) within the major supply zone at C$0.92400 shares a confluence with the bearish trendline to signal a selling opportunity for us in the coming week(s).
Tendency: Downtrend (Bearish)
Structure: Supply & Demand | Trendline | Reversal pattern (Double...
AUD-CAD is about to retest the descending resistance at 0.925
Because the level is strong
I expect a bearish reaction
With the goal is support below 0.9000
