Aud-cad
SHORT AUDCAD is Approaching Resistance, Prepare for Further DropAUDCAD is approaching its resistance at 0.9507(61.8% Fibonacci extension ,61.8% Fibonacci retracement , horizontal swing high resistance) where it is expected to drop further to its support at 0.9440(76.4% Fibonacci retracement , horizontal pullback support,61.8% Fibonacci extension ).
Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDCAD is Approaching Resistance, Prepare for Further Drop
AUDCAD is approaching its resistance at 0.9507(61.8% Fibonacci extension ,61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 0.9440(76.4% Fibonacci retracement, horizontal pullback support,61.8% Fibonacci extension).
Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDCAD Short OpportunityTaking a long position on CAD before NFP Friday. Ideal entry just below 0.95, with a target of about 100 pips to the downside
AUDCAD - LONG - DESCENDING WEDGEBias: Long
Technical Strategy: Descending Wedge Pattern + Monthly Support
Target:
TP1: Base of Pattern
TP2: Next resistance area + Fibonacci Cluster
Commentary: AUD on it's way to a bullish run and CAD is on a decline.
FREE TRADE.... Thank us later :) Strong resistance can be seen, and the current candle is at this level now, price going into this level is not overly strong so we can only see price respecting this level and making bearish movement.
Get on this trade and thank us later :p
See how easy trading can be? keep your charts simple and clean and you will spot good setups.
AUDCAD approaching support, potential bounce! AUDCAD is approaching our first support at 0.9485 (horizontal overlap support, 38.2% fibonacci retracement, 61.8%, 100% fibonacci extension) where a strong bounce to our major resistance at 0.9524 (horizontal overlap resistance, 50% fibonacci retracement) might occur.
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDCAD approaching support, potential bounce! AUDCAD is approaching our first support at 0.9485 (horizontal overlap support, 38.2% fibonacci retracement, 100% fibonacci extension) where a strong bounce to our major resistance at 0.9524 (horizontal overlap resistance, 50% fibonacci retracement) might occur.
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUD/CAD long opportunity AUD/CAD is extending gains above 110-EMA and is on track to test 61.8% Fib.
The pair has broken out of daily cloud and major trendline resistance at 0.9515.
Technical analysis is bullish. RSI is above 50, bias higher. Stochs show bullish momentum.
Next immediate resistance lies at 55W EMA at 0.9574, breakout eyes 76.4% Fib at 0.9658.
On the flipside, retrace below 110-EMA will see weakness till trendline support at 0.9335.
Support levels - 0.9515 (cloud top), 0.9490 (110-EMA), 0.9470 (38.2% Fib)
Resistance levels - 0.9574 (55W EMA), 0.9586 (61.8% Fib), 0.96
Good to go long on dips around 0.9530, SL: 0.9490, TP: 0.9575/ 0.96/ 0.9630
AUDCAD pullback pendingThe pair has broken the bearish trend and is now facing rejection in a resistance area. Adding the Daily and 4h Stochastics, we should see the pair dropping, forming a pullback towards the trendline previously broken.
AUDCAD approaching support, potential bounce!AUDCAD is approaching our first support at 0.9388 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level, pushing price up to our major resistance at 0.9441 (horizontal overlap resistance, 61.8% Fibonacci retracement).
Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDCAD LONG SETUPAUDCAD has broken through the current downtrend on large bull momentum (steep stochastics).
We expect the momentum to continue as it goes and tests the 38.2% fib in the short-term.
In the long-term we can see 0.97000 being tested if the trend holds.
SL below recent lows.
Buy
TP 1: 0.95400
TP 2: 0.95950
TP 3: 0.97000
SL 1: 0.93800
SL 2: 0.93180
AUDCAD approaching resistance, potential drop! AUDCAD is approaching our first resistance at 0.9487 (horizontal swing high resistance, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong drop might occur below this level to our major support at 0.9423 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
