AudCad Trade IdeaAudcad is looking solid this week for some longs. There was a clean shift to the upside around 0.90600. Price ended last week with a push to the upside. I'll personally be looking for price to pullback and retest 0.90812. Looking at the daily time frame we may even see price pullback to 0.90600 before going long again. As long as price respects 0.90600 price would still be considered bullish. I'll personally be waiting on either move to happen with targets around 0.91300-400.
CADAUD trade ideas
AUDCAD LONGM
Bullish
Consistent HH & HL,
EMA cross to upside
W
Bullish
Price above EMA (sidewards)
From PM Doji H,HL, Potential HH
to be printed
D
Pull back could have already played out at
bounce on 38.2, however if price continues
lower ill expect bounce on EMA at 0.50 Fib
Price finding support at EMA's, EMA sitting
just above 0.50 Fib
potential small gap down on Sunday open, if
price approaches 38.2 will wait for double bottom or bounce at 0.50 for Buy stop
ICMARKETS:AUDCAD
AUD_CAD WILL GO DOWN|SHORT|
✅The retest of the strong resistance level on AUD_CAD around 0.9130
Has happened after trading in a local uptrend from some time
Which makes price decrease a likely scenario
With the target being a local support below at 0.9097
SHORT🔥
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AUDCAD My Opinion! SELL!
My dear subscribers,
This is my opinion on the AUDCAD next move:
The instrument tests an important psychological level 0.9100
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 0.9065
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
AUDCAD Excellent buy signal on the 1D MA200The AUDCAD pair gave us an excellent sell signal last time (July 08 2024, see chart below) and easily hit the 0.9000 Target:
This time, we have an established Channel Up with two Higher Highs and three Higher Lows priced in already. We are currently on the new Bullish Leg following the rebound on the 1W MA200 (orange trend-line).
As long as this holds, we will treat every touch on the 0.786 as a buy opportunity, similar to the Triple Bottom of March - April. That Bullish Leg marginally surpassed the -0.5 Fibonacci extension to print its Higher High, so our Target will be just below it at 0.94000.
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AUDCAD Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring AUDCAD for a buying opportunity around 0.90900 zone, AUDCAD was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.90900 support and resistance zone.
Trade safe, Joe.
AUDCAD - Momentum Divergence and Bearish Pennant?AUD has had a strong run-up against the CAD and appears to be pausing with consolidation taking the pattern of a rising Bearish Pennant as well as a divergence between price and Momentum.
This pause could precede a breakout to retest previous resistance/support levels and previous pivot highs/lows which are in close proximity, so high non-directional volatility could trigger tight stop-losses.
Expectations amongst the retail traders are that it is due for a bearish retracement so there is a high likelihood of a bullish spike fueled by their stop-losses above the market prior to this retracement.
Short AUDCADAfter breaking the support level at 0.91174, AUD retested and failed to close above it. Instead, AUD closed below the 20,50 and 200 EMA and started to show weakness against the Canadian dollar.
Potential bullish rise?AUD/CAD has reacted off the support level which is an overlap support which aligns with the 50% Fibonacci retracement and could rise from this level to our take profit.
Entry: 0.90284
Why we like it:
There is an overlap support level that aligns with the 50% Fibonacci retracement.
Stop loss: 0.89593
Why we like it:
There is a pullback support level.
Take profit: 0.91122
Why we like it:
There is an overlap resistance level that lines up9 with the e 61.8% Fibonacci retracement.
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AUDCAD 1h Reversion Zone Fill ExpectedReturn and fill into the reversion zone range is expected.
Reversion zone range: 0.90458 - 0.90357
Resistance level: 0.90517
Support level: 0.90242
⚠️ Reversion Zone is an area on the chart where the price often returns after deviating. Some zones will be covered by nearby candlesticks, while others may take more time. Also the zone may never be filled, be careful.