Get started

Aud-cad

Sell opportunity in AUDCAD AUD/CAD is witnessing a sell - on rally from 0.9090 level. It has recently made an attempt to pierce through an uptrend line prevelant since 30th August in 4 hours chart. The decline in the pair is in accordance with the RSI that has already indicated a short spree in the pair at 53.90 level. Furthermore, the pair has also formed a head and shoulder chart pattern in the hourly chart that again supports the selling in the pair. Thus, a sell in AUD/CAD is preferred at 0.9050 Trade Information : Sell- 0.9050 Target- 0.9008 SL- 0.9086
Short
by rubal_ahuja
AUDCAD Buy opportunityAfter a recurring descending trendline breakout and obvious bear cessation, the price hit a powerful support made visible by a double bottom. Another descending trendline was also broken awaiting a possible retest whereby I will place my long position with a Stop below a secondary support not far from the trendline. However, if there is no retracement I will look to place my long positions above the current target/resistance. Good luck and follow me for more ideas!
Long
by UnknownUnicorn4565572
AUDCAD could be close to rocketing up to touch 0.92400 againAUDCAD has signaled a long opportunity that could be very rewarding, a 1:2.27 risk-reward ratio, if we put enough patience and trust our analysis: 1. Since April 2019, price has been following a downtrend, with the aussie dollar showing quite a lot of weakness, due to worsening economic conditions, and heavily affected by the US-China conflict, as China is Australia's main trading partner. The CAD has been performing quite well, sustained by a Bank of Canada not so dovish tone last week. Since touching the trendline, coinciding with our monthly resistance, price pushed with strength to the downside until reaching the psychological level around 0.89000. Since then, price has been consolidating without a clear action, not giving us any clue about where it could go next. 2. With the start of september, price started to recover. Significant price action to the upside ocurred, breaking through the 4h resistance zones identified in the chart. 3. Finally, price came back to retest our trendline + 4h resistance, managing to break both zones with a generous bullish engulfing candle. Price has continued moving a little bit more to the upside,signalling that this could be the moment where bulls could start to finally take control, as the trendline hadn't been broken since it started forming in april 2019. This night we could see price retesting our 4h support around 0.90500, if you want to try to get a cheaper entry take this into account. Personally, I'm entering now as I believe this trade has lots of potential to start pushing with great power right now. Sl: around 0.89500, leaving a little bit of room after the 4h support Tp: 0.92400, the next monthly resistance. Good luck and enjoy trading!:)
Long
by albc
AUDCAD - Education - Thoughts on Monday 9thRecently buyers have troubles pushing the market up(the area is within blue rectangle). In the last movement up we can see a channel and fading of the moventum (which is shown as a lower high on MACD) in comparason with the previous run. In our technical analysis we have two scenarios. However, at the moment we stay neutral as the channel hasn't been broken yet, but the mommentum is weak. Feels free to ask questions. Subscribe to our channel and don't miss new sugnals and educaional posts.(Wa have just opened)
by ForexCoaster
AUDCAD Double Bottom PatternThe AUDCAD has been in a prolonged downtrend, and has created a double bottom pattern. Awaiting for a daily break above the resistance zone of 0.9045. Ideally, would like to see this break confirm a higher low swing which would entail prices dropping initially rejecting the resistance zone before breaking above. Although, you can already say this has already happened on the 12 hour timeframe. First target would be the flip zone at the 0.9250 zone. Awaiting the break and close on the daily.
Long
by Uncharted-FX
AUDCAD: Correction Movement or Trend Reversal?This market should be added to a watchlist. The price bounced from 0.89000 support, and we can see that this zone can be a starting point for a correction movement or a new uptrend. If the price breaks the local swing high, the downtrend line and moves above the nearest resistance level, we should think about buying with stop orders below the local swing low and the main profit target at 0.93000 resistance level. Until the price stays below SMA200, we have to talk about the bearish trend. It means all reversals from SMA100, SMA200, and resistance levels can be used for opening sell positions. For such sell trades, the stop orders must be placed above the local swing highs. The profit target should be at 0.89000 support zone. All trades must be used with stop-loss orders, and it's better to use trailing stops too. For getting better entry levels, use the lower timeframes.
by DLavrov