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AUDCAD

AUDCAD Potential DownsidesHey Traders, in the coming week we are monitoring AUDCAD for a selling opportunity around 0.923 zone, as AUDCAD is trading in a downtrend and extending pullbacks seems to be approaching the major one around 0.923 support and resistance zone. i would also recommend to take a look at the stock market confirm the bias as AUDCAD and American indices are positively correlated. once there is any bearish confirmation i would set as a target 0.912 zone as it's considered the next major support zone AUDCAD will be facing. Trade safe, Joe.
Short
by JoeChampion
6
Adding to the watch list-Short at a Key levelSeeing price at a significant key level that price has strongly rejected from before. Showing deceleration in momentum as a good sign of a lot of selling pressure available here. First entry already taken at 0.91835, Second entry placed at 0.92, another key level and round number. Double hedge Placed just above the second entry at 0.9217 Both targets at 0.9125. 60 pips profit if only the single position Reaches target 50 Pips max risk, 140 pip max reward if both positions are triggered.
Short
by ForexStoryteller
📌 Potential SELL setup for: AUD/CAD👩🏽‍💻Technical: On a daily TF, the AUD price has crossed the 20-day and 50-day moving averages and is now trying to break through the 100-day moving average. This may suggest that there is selling pressure on the currency. However, it's important to note that the price is still moving within a channel on LTF. 🎯 For an ideal entry: To confirm a bearish bias, I suggest waiting for the price to break below the channel on the 4-hour chart, and also fully break the moving averages. Otherwise, no entry.
Short
by fxtraderkristina