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Aud-cad

AUDCAD testing a weekly resistance 🦐AUDCAD after the attempt to break the weekly support close the last trading day of the week with an impulse to the upside. The market is moving inside a descending channel and recently tested the lower trendline. According to Plancton's strategy if the price will break above we will set a nice long 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 trigger
Long
by InkyGrip
AUDCAD on a false breakout 🦐AUDCAD after the attempt to break the weekly support close the last trading day of the week with a double bottom higher close formation. The market is moving inside a descending channel and recently tested the lower trendline. According to Plancton's strategy if the conditions will be satisfied we will set a nice long 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 trigger
Long
by InkyGrip
COT CURRENCY REPORTAUD, NZD & CAD: It was a big week for the NZD after the RBNZ followed in the BOC’s footsteps by bringing forward rate hike projections to Sep 2022. Keep in mind the reason why we haven’t seen a correspondingly big uptick in NZD positioning is because the CFTC data is only updated every Tuesday and does not include the big moves seen in the NZD from Wednesday. For the CAD, even though the bias remains unchanged, sitting at over 44K net-long, the second largest among the G10, one has to argue that the CAD has been looking rather stretched at its current levels. That, of course, doesn’t mean the bias has changed, but it does not mean at these levels the risk to reward to continue buying the CAD doesn’t look that attractive. In the week ahead for the AUD, we do have the RBA policy meeting coming up. However, the more anticipated meeting is the July one as the bank previously highlighted that they would use the July meeting to provide additional guidance regarding their QE program and their Yield Curve Control. Thus, the June meeting are not expected to provide any real fireworks. JPY, CHF & USD: Real yields, FED policy and Reflation expectations continue to be key drivers for the US Dollar. That means that incoming data will be very important for the market as it will be used as a gauge to determine how far or how close FED tapering will be. In the week ahead there are several important data points coming up which will be interesting inputs for the US Dollar. What a week it was for the JPY, which fell off the proverbial cliff at the latter part of the week. Pressured not only by US10Y staging a bit of a recovery on Thursday, but more influenced by month end flows where Citi bank noted that they estimate Japanese investors will need to sell JPY to reduce hedges on foreign bonds. With month-end effects mostly out of the way, the focus for the JPY will once again fall on US yields. GBP: The bullish bias for Sterling remains intact. Positioning has once again reflected the bullish bias as the biggest build in net-long positions with the most recent CFTC data. Sterling made some impressive runs in the past week as the markets reacted very favourably to comments from BOE’s Vlieghe who noted that there could be scope for faster policy normalization if the economy develops in line with their estimates and more importantly if the negative impact from the phasing out of the furlough scheme is contained. Markets took the news very positively, as they were hawkish comments from a more neutral central bank member. However, they comments were very conditional on the labour market staying firm after furlough ends. Also, Vlieghe won’t be at the bank after August which means that his comments surrounding monetary policy should be taking with a pinch of salt as it does not necessarily represent the views of the actual voting members. It’s going to be a quiet week ahead for the GBP in terms of economic data. EUR: Still the biggest net-long position among the majors. Issues surrounding the fundamental outlook for the single currency still has complications, but with the vaccination roll out gathering momentum we have seen sentiment data picking up on the prospects of a reopening. The EUR has remained well supported over the past few weeks as the USD continued to lose favour and as markets look towards a fast economic rebound once the vaccination efforts allow the EU to lift restrictions. If the EU can reach their vaccination targets, 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 compare the policy response between the US and UK or compare policy normalization expectations it seems the EU is still lagging behind that of the US and the UK. For that reason, we are staying patient with our med-term bearish view on the EUR for now and will wait for more information and data before we change our mind.
by thunderpips
14
AUDCAD a short outlook 🦐After our previous analysis, AUDCAD reached and tested the weekly support. The price is currently breaking below and according to Plancton's strategy if the market will satisfy the conditions 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 trigger
Short
by InkyGrip
AUDCAD approaching 1st resistance, potential for a reversal!Price is approaching 1st resistance, in line with 50%, 61.8% Fibonacci retracement and horizontal pullback resistance, where we could potentially see a reversal and drop further towards 1st support, in line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support. Price is also holding below the Ichimoku cloud resistance, showing signs of bearish pressure as well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub
💡Don't miss the great buy opportunity in AUDCADTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.9355). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDCAD is in a range bound, and the beginning of an uptrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 65. Take Profits: TP1= @ 0.9410 TP2= @ 0.9450 TP3= @ 0.9500 TP4= @ 0.9555 TP5= @ 0.9615 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
3
💡Don't miss the great buy opportunity in AUDCADTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.9355). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDCAD is in a range bound, and the beginning of an uptrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 65. Take Profits: TP1= @ 0.9410 TP2= @ 0.9450 TP3= @ 0.9500 TP4= @ 0.9555 TP5= @ 0.9615 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_World
6
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