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We are going to discuss about FX:AUDCAD
We can see a market tested its resistence area in...
AUDCAD made lower lows as predicted yesterday.
Price action pulled back to the resistance/swing zone.
This is a breakout pullback continuation pattern.
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AUDCAD analysis shared with the ETGL group is playing out perfectly, anticipating further push to the downside before we make another rally to the highs.
Although we're approaching the end of the month, the market is likely to be more volatile than other days....
AUDCAD hrly long
buystop @ .91167
TP #1 @ .91379 82% wr
TP #2 @ .91635 56% wr
SL @ swing low .90425 12% wr
WR and HR Determined from past trades on this pair, on this timeframe.
More trades like this on my profile and on Bifrost trades
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)
Target: 0.89491 (POC)
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
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.
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.