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AUD/CAD---CONTINUE THE DOWNTRENDThe Australian dollar initially tried to rally against Canadian dollar this past week, but as you can see, we continue to see a lot of selling pressure near the 0.93 handle. We have been grinding lower for a while and it now looks like we are getting ready to rollover to continue the overall downtrend. This does make a certain amount of sense, considering just how strong crude oil suddenly is. At this point, I anticipate that this market will revisit the 0.90 level.
Short
by SmoothJB
2
AUDCAD (1H) OUTLOOK - BEARISHGood Morning Friends, Am taking a good look at AUDCAD (1H)🔥🔥🔥 AUDCAD price currently is playing inside a flat bottom triangle, and price is correcting/heading to touch the trendline from where seller will step in to push price down to 0.91043 area (lower bounds of our flat bottom triangle). MACD (1D) clearly indicates that sellers are still present and willing to deal. MACD (1H) confirmed this as there are not buyers present at all. Entry would be idea if price kisses the trendline, with STOP LOSS at 0.92134, TARGET at 0.91043 RRR of 1:3.42 (25.0:85.5 pips) I will update here if anything changes PLEASE LIKE AND COMMENT, ALSO FOLLOW ME FOR MORE
Short
by Kingsley_lotanna
AUD/CAD Analysis, Bear Claw is in Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The AUD/CAD has started what seems to be a Bearish movement back in September and it doesn't look it's going to stop any time soon. The pair is had a small push-up 2 days ago that let people think that the market is stabilizing but today's session started Bearish with a 0.5% drop already. Technical Analysis with possible Scenarios for the market : Scenario 1 : It seems like the market broke the first support line located at 0.91760 today, And the Bears are in control over the market right now and they will increase what power they have to drop the market even more. The first stop will be the support line at 0.91560 where they might have a small push back from the Bulls but most likely the victory will be on the Bears side, Which will lead to a further drop that will reach the 0.91000 zone Scenario 2 : The Bulls are trying to gain control over the market but so far with no luck, If they were able to gain some control it will probably push the price to the first resistance line located at 0.91970 where a big battle will happen and the Bears will go in to take control over the market and continue this Bearish movement, The first stop after this happens will be the second support at 0.91560 and then the 0.91000 zone Technical indicators show : 1) The market is below the 5 10 20 50 100 and 200 MA and EMA (Strong Bearish Sign) 2) The ADX is at 16.11 showing that the market is not trending much right now and that it's having a Negative crossover between DI+ and DI- 3) The RSI is at 39.16 Showing Weakness in the market, with no divergence found between the indicator and the market Daily Support & Resistance points : support Resistance 1) 0.9176 1) 0.9197 2) 0.9166 2) 0.9206 3) 0.9156 3) 0.9217 Weekly Support & Resistance points : support Resistance 1) 0.9139 1) 0.9218 2) 0.9100 2) 0.9258 3) 0.9060 3) 0.9297 Fundamental point of view : The Australian Current Account Balance for the fourth quarter was reported at A$14.5B. Economists predicted a figure of A$13.1B. Forex traders can compare this to the Australian Current Account Balance for the third quarter, reported at A$10.0B. Australian Net Exports of GDP for the fourth quarter decreased by 0.1% quarterly. Economists predicted a decrease of 0.3% quarterly. Forex traders can compare this to Australian Net Exports of GDP for the third quarter, which decreased by 1.9% quarterly. The Canadian GDP for December is predicted to increase by 0.3% monthly and for the fourth quarter by 7.5% annualized. Forex traders can compare this to the Canadian GDP for November, which increased by 0.7% monthly, and to third-quarter GDP, which increased by 40.5% annualized. The forecast for the AUD/CAD remains bearish after price action failed to sustain its upward movement towards the psychological resistance level of 1.0000. According to Paxforex This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
Short
by GabiDahduh
1
AUDCAD AnalysisPrice is currently trading within and continuing to form a decending widening wedge (which still hold even on the D1). I made a further analysis on the H4 and foound that price has formed a decending widening wedge too. We are currently nullish from a second resistance trrendline touch. I believe price will continue long until it gives us the third touch on the resistance trendline, before dropping again. On the third support line touch, I expect price will give us an impulse move up (assuming price doesnt break below. In the meantime, I will be looking potential entry opportunities to ride the wave up. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate
Long
by Magnatrio
AUD/CAD:DOWNTREND CONTINUATION|TECHNICAL+FIBO ANALISYS|SHORT🔔Welcome back Traders, Investors, and Community! Check the Links in Description and If you LIKE this analysis, Please support our page and Ideas by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Short
by FOREXN1
1