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Aud-cad

AUDCAD holding below descending trendline! Potential for drop!Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistances, in line with our bearish bias. We could potentially see a reversal at 1st resistance in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance, and further downside towards 1st support, in line with 61.8% Fibonacci extension and horizontal swing low support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub
AUDCAD facing bullish pressure, potential for further upside!Prices are facing bullish pressure as prices are taking support from horizontal swing low support in line with 61.8% Fibonacci retracement and 50% Fibonacci extension. Prices might push up towards horizontal swing high resistance in line with 78.6% Fibonacci extension and -27.2% Fibonacci retracement. If prices push down, prices might take support on 2nd support in line with horizontal swing low support, 127.2% Fibonacci retracement and 100% Fibonacci extension. EMA is also below prices, showing a bullish pressure for prices.
Long
by TradeGATEHub
AUDCAD facing bearish pressure, potential for further downside!Price is facing bearish pressure as it continues to hold below both descending trendline and Ichimoku cloud resistance, in line with our bearish bias. We could potentially see price reverse at 1st resistance, in line with 38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback resistance, and further downside towards 1st support, in line with 78.6% Fibonacci extension and horizontal swing low support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub
AUD/CAD Analysis Welcome back! Please support this idea with a LIKE if you find it useful. *** AUD/CAD - Would like to see a push up to the weekly resistance followed by trend continuation. We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian Kenya Horton, BK Forex Academy
by BKTradingAcademy
AUDCAD short set up 🦐AUDCAD after the last bearish impulse retraced until the 0.382 Fibonacci level. The market is now testing the support and according to Plancton's strategy if the price will break below we will set a nice short order. ---- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigg
Short
by InkyGrip
6
Probability of price rise As you can see, a downward trend line has been formed that seems to be very strong. It has now reached a support that we think is strong enough that it will not break easily because its touch points are high. We are currently witnessing a strong compression. If this compression is broken, we will see a strong downward or upward movement. If support is maintained, we may see the price approach the trend line, but if it breaks, we may have to wait for the next support.
Long
by Therezavni
Take a look at the chart in daily timeHi everyone I hope you are well In our previous analysis, we focused on buying transactions. In this analysis, we analyzed the chart in daily time. You can see that Zoon 0.9448 to 0.9490 has good price support. We also have a resistance-resistance line that reacts to this line several times. But this time, the price may be trapped and break the support level and we will see a move towards 0.9270. 📣 Attention 📣 ⚠️ 1. We publish this trading idea to help analysts, so if you have an idea that you think is right, do not be influenced by this idea. ⚠️ 2. All our analysis and signals are provided free of charge, so we have no obligation to make any profit or loss on our signals and analysis. ⚠️ 3. If you have an idea, write to us in the comments section, we will be happy to use your idea in our analysis.
Short
by fx_iranian_traders
AUDCAD Possible Short SetupAUDCAD is resting in the previous support zone of 0.9518-0.9536. After breaking quickly through this zone by slightly over 60 pips, price slowly made its way back. The 4H chart shows a downward bias as the 20, 50, and 200 period MAs are crossing down. Furthermore, price is resting right at 20 period MA, a great place for a potential reversal downward. I was hoping for a super clean retest here where price bounces off the 50 period or 200 period MA right at my retest zone. However, it doesn't look like we're getting that. As such, I will be taking this trade with a 1% risk instead of my normal 2%. I will personally wait to enter this trade until I see a clear bearish reversal pattern on the 1H chart or some lower lows and lower highs on the 15m. Furthermore, the RBA will be releasing their Rate Statement and Chast Rate tonight at 12:30am Eastern. That makes this a risky entry. However, it is epxected that the cash rate will remain the same through 2023 or so. They may make some changes to QE and curve control, among other things. Ideally, we can get a clean entry before the RBA data is released. Patience is the name of the game, so I will be watching this pair for a solid entry.
Short
by MRobertsTrading
COT CURRENCY REPORTAUD, NZD & CAD: The latest CFTC data for the CAD was surprisingly low with the most recent update, especially after the data included the price action following the BOC’s hawkish tilt. However, what was not reflected in the data has been made up in good measure in the price action we saw this past week as the CAD’s fundamental realities kicked into high gear and pushed CAD higher. For the AUD and NZD, the week does hold some risk events to take note of such as quarterly Employment data for New Zealand as well as a press conference with Governor Orr after the release of the financial stability report. For the AUD, we also have the RBA meeting coming up on Tuesday where market participants are not expecting anything new from the bank. Furthermore, the increased volatility in equities over the past few days means that we do of course want to be mindful of any fluctuations in risk tones as they remain a key external driver for all three the high beta majors. JPY, CHF & USD: What to make of the Dollar on Friday? Firstly, technically speaking the currency was looking a bit stretched to the downside after having almost three straight weeks of selling. Secondly, the recovery in US 10-Year bond yields provided a welcome reprieve for the greenback. Thirdly, the more hawkish comments from FED’s Kaplan on Friday also spurred some upside for the Dollar by talks of tapering discussions and rates lifting off in 2022, but keep in mind that Kaplan is considered as a hawk so even though these comments are positive, they are not as positive when compared to coming from someone like Powell or Clarida for example. After a pretty impressive run higher for the JPY, the move higher in US 10-Year bond yields once again showed the strong inverse correlation between the two assets with the JPY pushing lower this week despite some risk off flows seen in equities (which is usually expected to be positive for safe havens). In the week ahead, focus for both the USD and JPY will remain firmly fixed on bond yields as well as the overall risk sentiment in the market. GBP: GBPUSD took quite the tumble on Friday as the Dollar gained some momentum, and also suffered against other major counterparts as well. The fundamental bullish outlook remains intact, and this week attention will turn to the BOE policy decision coming up on Thursday, as well as the UK’s local elections and Scottish Parliamentary elections. Between the elections and the BOE, the more important event will arguably be the BOE where there is a growing number of participants calling for a potential tapering announcement by the bank this week, but there is a few caveats to this which is important to keep in mind. EUR: Still the biggest net-long position among the majors. There are still issues surrounding the fundamental outlook for the single currency, but despite that the EUR has remained very well supported over the past few weeks as the Dollar has continued to lose favour. Friday did of course see some overdue correction playing out for the USD which saw a sizeable push lower in the majors across the board. As the fundamental outlook remains unchanged in our view, the Dollar’s movements will be very important for the single currency this week. For now, it seems that a lot of participants are still banking on a potential or eventual EU recovery story from H2 as the vaccination roll out gain positive momentum. If the EU can reach some of the targets it has set itself then we could well see a faster recovery playing out in the EU. However, when we compare that potential recovery in terms of growth or inflation differentials or compared that from a monetary policy normalization point of view, it will still be far behind that of the US and the UK, which is why we are staying patient with our view on the EUR for now, waiting for more information before we change our mind. *This report reflects the COT data updated until 27 April 2021.
by thunderpips
AUDCAD facing bullish pressure, potential for further bounce!Prices are facing bullish pressure from pivot level which is in line with horizontal swing low support, 78.6% Fibonacci retracement, and 61.8% Fibonacci extension. Prices might push up towards 1st resistance which is a swing high resistance in line with 127.2% Fibonacci retracement and 78.6% Fibonacci extension. If prices push down further, prices might take support from horizontal swing low support which coincides with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. Ichimoku cloud is also below prices, showing a bullish pressure for prices.
Long
by TradeGATEHub
COT CURRENCY REPORTAUD, NZD & CAD: Positioning data for the AUD, NZD and CAD updated until the 13th of April still shows more room to run to the upside for the three high beta commodity-sensitive FX majors, even after the recent push higher in the likes of the NZD and AUD. For this week the majority of the attention will turn towards the Canadian Dollar where we will have the BOC's policy and rate decision. Just two weeks ago the expectations that the BOC will look to start tapering their QE program was set in stone, but recent rising virus cases and lockdown restrictions has seen some participants push back these expectations. Apart from that, the past few sessions the overall global risk outlook has been the main external driver for the AUD & NZD and without any major surprises we would expect the two antipodeans to be largely driven by the risk outlook. JPY & CHF & USD: With the US10Y pressured in the past week the JPY was quite resilient among major currencies despite overall positive risk tones. As yields find some equilibrium it will be interesting to see whether the JPY takes its cue more from risk sentiment in the weeks ahead as the strong inverse correlation between US10Y & JPY has been moving lower recently. The USD once again saw downside despite further solid econ data and largely followed US10Y's path lower. However, it was quite noticeable that the Dollar didn't fall further on Thursday despite US10Y pushing lower with quite some pace. Friday did see US10Y finding some reprieve alongside the USD. Even though the Dollar's med-term bias remains titled to the downside, we should keep in mind that yields have not been the only driver for the Dollar over the past few weeks as the overall reflation narrative remains a big focus as well. As the USD's slide coincides with lots of exuberance in equities and VIX treading water on key support, we do need to keep a close eye on overall risk sentiment for some potential mean reversion at some stage, and if equities do have some short-term deleveraging it could see some USD safe haven flows. GBP: The two favourites among the FX majors from a fundamental outlook point of view has been the CAD and the GBP, and it's both of them that has been the weakest among the majors over the past two weeks. Whenever we see price action like this we need to ask ourselves whether anything has changed that could jeopardize the fundamental outlook, and despite some initial concerns about the AstraZeneca vaccine, the main drivers for expecting further upside in the Pound is still intact. However, we also don't want to catch falling knives. In the coming sessions, either waiting for price action to confirm the bullish trend is back in focus or waiting for a positive catalyst to driver the Pound higher seems like the best course of action in the short-term. EUR: The upside in the EUR this past two weeks has gone against the overall downside bias for the single currency which has been based on the EU's slower vaccine roll out; rise in virus cases; new lockdown restrictions; growth differentials; monetary policy expectations; and fiscal stimulus. Some have argued that the big unwind in net long positioning over the past few weeks have seen the EUR reach an equilibrium as most of the negatives mentioned above should already be reflected in the price at this point. ING has also noted that there is a possibility that "traders wanting to jump in early on the EUR recovery story – more signs of which should emerge through the quarter as, for example, vaccination programs gain pace in the likes of France and Germany". However, in our view it's far too early to be buying the EUR en masse in the hopes of an eventual catch up in vaccines and growth, especially on the growth side with the recovery fund yet to be ratified and large parts of the EU still under lockdowns while the UK and US is opening up. But, as we noted last week, the sensitivity of the EUR to the Dollar also explains some of the upside in the EUR, and remains a key factor to watch in the week ahead. *This report reflects the COT data updated until 13 April 2021.
by thunderpips