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Audcadforecast

AUDCAD trade idea on H1Plan : trendline breakout --> wait for prices to bounce off horizontal / trendline support --> wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar etc --> BUY **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 like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
3
AUDCAD - POTENTIAL SHORT(S)We've seen over the years how strong of a support level 0.91-0.915 has been in rejecting price and setting up long opportunities. It's been broken and has continually been touching this price point yet this time as a resistance, being unable to surpass it. I'm looking for price to extend a bit further towards 0.915 area before entering to setup the RSI which is looking somewhat neutral at the moment, but this price action and the structural pattern are definitely showing bearish intentions. The first target would be the bottom of the nearest daily support area where the breakout bottomed out (0.88-0.89), second target at approximately 0.855 (backtested support) and final swing at the monthly low 0.75. Low risk with a tight stop. Let me know if you have any suggestions or alternate analyses.
Short
by KingEndri
1
AUDCAD potential reversal! AUDCAD expected to rise up to 1st resistance at 0.90880 where it could potentially react off and drop down to 1st support at 0.90174. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
AUDCAD reversed from resistance, potential drop! AUDCAD reversed off its resistance at 0.90880 where it could potentially drop further to 0.90174. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone