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CANADIAN DOLLAR / AUSTRALIAN DOLLAR

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CADAUD trade ideas

AUDCAD Intraday trade 15/01/2025On the daily timeframe, #AUDCAD remains in a clear bearish trend, but as discussed earlier, the pair is currently in a pullback phase, forming a potential lower high. At present, price is hovering around the 0.88966 level, which serves as a key area of interest for sellers. Traders should be watching closely for signs of rejection or bearish confirmation at this level, which could present a solid selling opportunity in line with the prevailing trend. Alternatively, if the pullback extends further, the next significant level to monitor is around 0.89667, where deeper retracement could offer another opportunity to enter short positions. It's important to remain patient and allow price action to dictate the next move within this ongoing bearish structure. Happy Trading
Long
by Thetraderscollective
AUDCAD Will Go Lower! Short! Here is our detailed technical review for AUDCAD. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 0.887. Considering the today's price action, probabilities will be high to see a movement to 0.882. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
AUDCAD Intraday trade idea WC 13/01/2025AUDCAD continues to show bearish momentum on the daily timeframe, but the current level can be interpreted differently depending on how the trendline is drawn. If the trendline has already been broken, the pair appears to be continuing downward after retesting the 0.88041 level during the Asian session. Alternatively, if the pair is still respecting the trendline, we may currently be at the bottom of the trendline, waiting for a pullback to create a lower high near the 0.89667 level before resuming the bearish trend. Traders should closely monitor price action to confirm whether the trendline break is valid or if the pullback scenario will materialize.
Short
by Thetraderscollective
Idea on a chart The Canadian dollar weakened against the greenback on Friday, and the yield on benchmark government debt climbed. The loonie was trading 0.1% lower at C$1.4403 to the greenback, or 69.43 U.S. cents, after trading in a range of 1.4392 to 1.4437. Canadian government 10-year bond yields rose 8 basis points to 3.429%. The yield on similar U.S. government benchmark debt rose to 4.7674%. U.S. February crude futures rose $2.99 to $76.91 a barrel on Friday. The value of building permits in Canada fell -5.9% in November, Statistics Canada said.
by EZIO-FX
Great set on AUD CADhe Canadian dollar edged lower against its U.S. counterpart for a third-straight day on Thursday as investors questioned the wisdom of suspending Canada's parliament at a critical time for the economy, and awaited domestic jobs data. The loonie was trading 0.1% lower at 1.4390 per U.S. dollar, or 69.49 U.S. cents, after moving in a range of 1.4366 to 1.4404. Canadian Prime Minister Justin Trudeau said on Monday he would step down in the coming months and that parliament would be prorogued until March 24.
by EZIO-FX
1
A Bullish Outlook for AUDCAD: A Strategic Buying Opportunity Today, I’d like to share my bullish forecast for the AUDCAD currency pair. Based on the latest analysis from our EASY Trading AI strategy, I recommend entering a buy position at an entry price of 0.89147. Several factors contribute to this positive outlook. Firstly, we’re observing strong support levels around the 0.88893 mark, which corresponds to our stop loss. This indicates a solid base where the price is likely to rebalance before potentially moving higher. Moreover, the technical indicators suggest increasing upward momentum, which is reinforced by recent positive economic data from Australia. This has enhanced market confidence in the Australian dollar relative to the Canadian dollar. I set a take profit level at 0.89385, providing a clear target to capture potential upside movement. By targeting this level, traders can benefit from a favorable risk-reward ratio, especially considering the current market conditions. As always, it's crucial to use proper risk management. Monitor market developments closely, as any shifts in economic indicators could influence price movement. For those seeking automated trading solutions, consider utilizing our trading robots that operate under the same EASY Trading AI framework, designed for optimal performance and ease of use. Let's seize this opportunity responsibly and make informed trading decisions!
Long
by ForexRobotEasy