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AUDCAD

Bullish Trade Setup on AUDCADHet Traders, Here we go on AUDCAD, looking at the chart on 1W the pair broke out of a year descending channel and now making a fair turn to the upside. With a steady HH and HL he keeps the momentum and it reveal a new Bullish channel on Daily TF. However, the market just made an absolute retest back to weekly Demand zone which also serve as multiple level of market structure for the pair late DEC. Having a closer looks at the pair on 4H TF, it just broke the extensive LH & LL journey it embarked on since February, which could indicates a new Bullish run back to retesting the upper band of the channel. Wee, this is not an indicator to buy blindly, i an anticipating for a more bullish volume to put the 1st supply to test then follow by a pullback to retesting the BOT (trendline) then i will find my entry afterwards. Watchout.
Long
by Adefxc
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