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AUDCAD

AUDCAD H4 | Bullish reversal off Fibo confluenceBased on the H4 chart analysis, we can see that price is falling towards our buy entry at 0.8899 which is an overlap support that aligns with a confluence of Fibonacci levels i.e. 50% retracement and 61.8% projection. Our take profit will be at 0.8983 which is an overlap resistance. The stop loss at 0.8835 which is a pullback support that aligns below the 61.8% Fibonacci retracement level. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM EU LTD (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
Long
by FXCM
AUDCAD H4 I Bounce off support level?Based on the H4 chart analysis, we can see that price has just bounced off our buy entry at 0.8912 which is a multi swing low support level. Our take profit will be at 0.8981 which is an overlap resistance . The stop loss will be set at 0.8834 that below 61.8 Fibo retracement level. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM EU LTD (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
Long
by FXCM
AUDCAD is starting a long-term corrective legIt's been 2.5 months since we last traded AUDCAD, when it gave us a sell signal (see chart below) right at the top of its Channel Down for maximum gain: Right now, the pattern is getting wider and its new bearish leg to a new Lower Low may be starting as last Friday's inability to close above the 1D MA200 (orange trend-line) may result in a Lower High rejection at the top of the Channel Down. The 1D RSI is trading within a Rectangle pattern, which just hit its top and that matches with the tops of the Channel Down. We are opening two sell positions now, one targeting Support 1 at 0.88350 and the other Support 2 at 0.877450. If broken and the short-term rebound gets rejected on the 1D MA50 (blue trend-line), we will open a new sell to target the bottom of the Channel Down and Support 3 at 0.8600. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
5
AUDCAD: On the 1D MA200 and top of the Channel Down. Sell.AUDCAD hit the 1D MA200 yesteday and came just shu off the top of the Channel Down. The 1D timeframe is technically bullish (RSI = 62.944, MACD = 0.002, ADX = 28.766) but the RSI is also near the top of its Rectangle pattern. The previous top coincided with the Channel Down rejection. Consequently we are opening a sell now and target the S1 (TP1 = 0.874500) and if a 1D candle closes under, extend selling to the S2 (TP2 = 0.86630). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
6
AUDCAD Short Bearish gets strongerAustralia's ties to China and the 'hard' commodities it produces have fostered a historical relationship between the local currency and precious metals. The value of the Canadian Dollar is strongly correlated with the price of crude oil as the country remains a dominant exporter of the commodity. Both currencies are therefore sensitive to broader commodity price trends. AUD has been hurt by a mix of factors recently: a setback in risk sentiment amid the lack of meaningful progress in Washington over raising the debt limit, a trimming back of rate cut expectations after hawkish speak from US Federal Reserve officials, and underwhelming Australia data (jobs data being the most recent). This puts increased focus on Australia retail sales data for April due Friday – forecast to have slowed to 0.1% on-month from 0.4% previously.A below-expected print could precipitate a decline in AUD. Also, a higher-than-expected US core PCE price index print (expected to remain flat at 4.6% on-year) could boost USD. AUD/CAD’s fall below a horizontal trendline from April at about 0.8950 has triggered a minor double top (the April and the May highs), potentially exposing downside risks toward 0.8800. The bearish development follows a failure to cross above stiff resistance on the 89-day moving average (see the daily chart).
Short
by DaveBrascoFX