Aud-cad
Valid head-and-shoulder pattern in 4-hour timeframe and bottom cShe will most likely kiss the neckline and start falling.
AudCad moves based on analysisBased on our previous analysis, we hunted a good move and it gave us a good profit. This analysis also serves you. It will be updated if needed
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.
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.
AUDCAD approaching 1st support, potential for bounce!Price is approaching our 1stt support, in line with our 23.6%, 61.8% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback support. We could potentially see a bounce and further rise up towards 1st resistance, in line with our 61.8% Fibonacci extension and horizontal swing high resistance. Price is also holding above the moving average support, showing bullish pressure in line with our bullish bias.
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AUD/CAD in a new trend channelThe pair is forming a new trend channel and it is reaching the upper side of it. A down movement is expected. Take your profits, when the price reaches the other side of the channel.
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AUDCAD moving lower 🦐AUDCAD after the 2nd retest of the weekly resistance is now moving to the lower trendline of the flag over a minor support.
According to Plancton's strategy if the market will break below we will set a nice short order.
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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
AUDCAD BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis for this pair.
Watch strong action at the current levels for BUY GOOD LUCK! Great BUY opportunity AUDCAD .
I still did my best and this is the most likely count for me at the moment.
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AUDCAD facing bearish pressure | 7th Apr 2021Prices are facing bearish pressure from pivot which is in line with 100% Fibonacci extension and horizontal swing high resistance. Prices might push down to 1st support, which is our horizontal swing low support, in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement . If prices push up, it might take resistance from 1st resistance which is in line with 127.2% Fibonacci extension and 127.2% Fibonacci retracement . Stochastics is also facing bearish pressure from 95.6 level.
AUDCAD facing bearish pressure | 7th Apr 2021Prices are facing bearish pressure from pivot which is in line with 100% Fibonacci extension and horizontal swing high resistance. Prices might push down to 1st support, which is our horizontal swing low support, in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement. If prices push up, it might take resistance from 1st resistance which is in line with 127.2% Fibonacci extension and 127.2% Fibonacci retracement. Stochastics is also facing bearish pressure from 95.6 level.
AUDCAD - FOREX - 06. APR. 2021Welcome to our weekly trade setup ( AUDCAD )!
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1 HOUR
Bullish price action towards main sr level.
4 HOUR
Overall bearish market structure..
DAILY
Expecting more price action towards previous lows.
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FOREX SETUP
SELL AUDCAD
ENTRY LEVEL @ 0.95820
SL @ 0.96350
TP @ 0.95080
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
Continuation of a strong uptrend or continuation of correction?In the long run, we are witnessing a strong uptrend for the Australian dollar, due to the positive news for the Australian dollar and the favorable conditions for coronary heart disease. But the main question is whether the reform is over and the main process is resumed or not, the reform is still going on.
long or short?? we will see!
let's go!
AUDCAD ANALYSISAUDCAD rebounded from major downtrendline
Pair is based below key level at 0.9630
Below SMA 100
MACD shows start of bearish momentum
RSI is below level 50
It's expected to target level 0.9450
Week Ahead: COT Currency ReportOverall:
With the CFTC data updated until 30 March the EUR showed the biggest decrease of (-19.5K) and the AUD showing the biggest increase of (+6K).
AUD, NZD & CAD:
Positioning still favours further upside for the three high beta FX majors. The strong push higher in global equities last week is another positive catalyst to keep in mind in the week ahead.
Even though we maintain an upside bias for the AUD, NZD and CAD, but given the BOC's recent action to discontinue some of their market functioning programs and the complete reversal of NZ10Y after it's recent push lower we would prefer the NZD and CAD above the AUD as we also
have the RBA this week which could influence the AUD.
The med-term bias for all three remains titled higher.
JPY & CHF & USD:
The big deviation in positioning we mentioned in last week's report saw some mean reversion in the JPY albeit it only minor moves. With risk appetite taking a more positive turn at the latter part of last week, and with the solid economic data points from the US, the risk on added additional pressure on the JPY, but positioning still has some possible room left to unwind which is a risk to our medterm downside bias.
The Dollar's price action at the latter part of last week was very important. Despite the best ISM Mfg PMI since 1984 and despite a solid NFP print which came in much higher than expectations, the Dollar failed to sustain any meaningful upside, and instead continued it's overdue mean reversion to the downside.
This might be the first signal that the positioning-related squeeze might be fizzling out and could potentially be the market turning it's attention back to the reflation narrative as we head into the highly anticipated Q2 of 2021.
GBP:
The bias for Sterling remains firmly titled to the upside, we maintain an upside bias in GBPUSD, especially with the Dollar's soft price
action following last week's solid data points.
The calendar will be very light for Sterling, so the overall focus will arguably fall predominantly on price action in the EUR and the USD.
EUR:
The reasons to expect downside for the EUR has been on the rise recently. Whether we consider the vaccine roll out, or recent virus numbers, or lockdown restrictions, or relative growth dynamics, or policy normalization expectations, all the above point to further downside for the EUR versus the USD and GBP, as well as the high betas.
Despite shedding a lot of net long positioning in the past two months, the EUR remains the largest net long position among the majors, which means there is quite a bit of room to run to the downside if the above concerns continue to pressure the single currency.
However, the one caveat to the EUR is it's sensitivity to the Dollar. With the Dollar pushing lower we've seen the EUR breathe a sigh of relief, and as long as the Dollar remains pressured we could see the EUR gaining some upside momentum.
This report reflects the COT data updated until 30 Mar 2021.
AUD/CAD, trend is your friend🧙🏻♂️The pair is still in a nice bearish run. As illustrated on the chart, the price is currently located at the descending trendline. We are looking forward to opening SELL positions and aiming for the 0.949 area of support🙌🏻
AUD CAD - long Idea - long pair. In fundament - aud have correliation witch gold.
cad - have correlation in Oil.
Fundament trend for oil - up = cad up
For gold - down - aud down
Position - AUDCAD - is hard short.
EDiCrypto | AUDCADThis is just a simple painting, no more no less ... Do the right job with your knowledge !!!
💡Don't miss the great sell opportunity in AUDCADTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.96430).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDCAD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 0.95850
TP2= @ 0.95250
TP3= @ 0.94580
TP4= @ 0.93940
TP5= @ 0.93120
SL: Break Above R2
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