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Audcadforecast

AUDCAD - BEARISH BIASAUD - BEARISH 1️⃣ Australian economy shrank 7.0% on quarter in the Q2 2020 after a 0.3% fall in Q1, posting the largest quarterly contraction since the record began in 1959 and entering the first recession in 30 years. 2️⃣ Investors also moved into the US Dollar on hopes for a rebound in economic activity following better-than-expected U.S. manufacturing activity data. CAD - BULLISH 1️⃣ CAD boosted by upbeat PMI data, higher oil prices and a weaker dollar. The latest PMI data showed Canada’s factory activity grew for the second straight month and at the sharpest pace in two years as market conditions strengthened following coronavirus lockdowns and rising hopes of a post-pandemic economic recovery. 2️⃣ Oil prices was supported by a bigger-than-expected draw in US crude stockpiles. ===== TECHNICAL ===== - We're looking to short AUDCAD on pivot point level + SBR level on H1 chart. - AUDCAD in bearish zone.
Short
by MonsunAsia
AUDCAD, daily timeframe, bullish divergence materializedHello my friends, There is a bullish divergence on AUDCAD pair and i've spotted this divergence since 2 days ago. It finally materialized as price also broken above the descending trend line. Noticed also price above the support i marked and ichimoku cloud so this pair is bullish in general. I am currently buying AUDCAD from 0.9500 as per this writing. Buy AUDCAD 0.9500-10 Stop loss 0.9410 Take profit 1 @0.9590 Take profit 2 @0.9680 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
AUDCAD short for 220 pipsHello traders, As we have witnessed a sizable pushup on this pair in recent week and the pair is consolidating at a major level and a flag pattern is appearing. This pair recently has broken the trendline as well. Even if it want to push higher up it needs to retest the trend line at a support level to gain more strength. On the daily timeframe there is every opportunity for this pair to push down and touch the trend line before deciding its fate. I have therefore marked the entry position, sl and tp as well. Let me know your toughts. Trade safe and good luck.
Short
by BannaKhan
1
AUDCAD moving perfectly The price came down as I said on the forecast of August 18, since the price has come all this way down, I believe it might follow the same patter it did back on May 2019 and the next target will be the trend line for at least 80PIPS and in a bit of a long term the next target will be the purple zone. . . . El precio hizo lo que había enviado en la idea del pasado 18 de Agosto, ya nos toco la primera zona y al haber llegado hasta este nivel me hace pensar que siga el mismo patron que el precio hizo en Marzo del 2019, dándonos como siguiente meta la próxima linea de tendencia y a un poco mas largo plazo la zona marcada.
Short
by anaju17
AUDCAD H1 LONG PRICE ACTION FORECAST After testing the demand zone, the price has rejected and wasn't able to form a fresh new low, indicating that upward momentum is coming. Confirmation after the news release from Canada tonight at 8:30 pm HK time we could confirm this buyers pressure over the AUD The order: Type: buy-stop S/L: 14 pips - R:R | 1:4 - T/P: previous high -- *** If you like the idea, don't be shy, click on like and comment. If you disagree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
AUDCAD H4 LONG PRICE ACTION FORECASTAlthough price action idd clearly under a bearish bias, the price has bounced from a previous supply zone. It moves towards the descending trendline to end the pullback (a correction from a downtrend impulse). The current structure allows the setup for a countertrend position to capture the pullback. The order: Type: buy-limit S/L: 24 pips - R:R | 1:2.5 - T/P: descending trendline -- *** If you like the idea, don't be shy, click on like and comment. If you disagree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
AUDCAD ROADMAP currently, price playing inside a trendline channel and potentially forming top formation (H&S pattern), bearish divergence on MACD indicates as the first sign of reversal might occur if the buyer failed to break out the 0.9690 resistance level. **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
10
AUDCAD - BEARISH BIAS.#AUD - Bearish Mode Recap: 1️⃣ Aussie down because of the rising COVID-19 cases in Australia,disappointing business confidence data and global risk sentiment moved towards negative. 2️⃣ U.S.-China tensions were once again a focus after China ordered the closure of a U.S. consulate in Chengdu and US Secretary of State Mike Pompeo urged China’s citizens to help ‘change the behaviour’ of their government. Review: 1️⃣ Australia CPI For Q2 - Bearish prediction — Dropped in consumer inflation expectations in Q2. 2️⃣ 2nd quarter GDP figures from key economies, COVID-19 news, and geopolitics will remain the key drivers. A jump in new COVID-19 cases and deteriorating relations with China would likely test support for the Aussie Dollar. ===== #CAD - Bullish Mode Recap: 1️⃣ Retail sales bounced back from April’s slump, with inflationary pressures picking up in June. 2️⃣ Crude oil prices also headed northwards in the week, providing the Loonie with support. Review: 1️⃣ Canada GDP for May - Bullish prediction — Stronger trade balance and retail sales.
Short
by MonsunAsia