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AUDCAD Rising Wedge Breakout, Midterm Short There is a resistance that has been in place since 2012 so it is very strong. When the price got there is fairly quickly got rejected. On the Weekly timeframe you can see a nice rising wedge that is now about to be broken (if you look at a shorter timeframe it is broken.) Also, it is broken on the RSI. What to look for: A close under the wedge on the daily timeframe or if you are feeling aggressive you could enter now. I am newer to forex so let me know what you think in the comments. If you like the idea, please follow.
Short
by Sicklezi
2
AUD/CAD Retrace To SupportThis is just short of the TP I set on this pair in my previous post but personally I have closed the trade, I think this is going to retrace soon as it is now overbought on 4HR and daily timeframes. It may still hit that TP but I prefer to secure the profit as a lot of AUD pairs are looking overbought. So now I will monitor this pair for a retrace to the support area highlighted. If there is a rebound from there a long can be taken to either the previous TP at 1.0000 or a new high of 1.00482. There is a lot of resistance in the red area marked above so I am setting the TP reasonably low as this could have a fairly big rejection considering how sharp the rise has been
by olly48
AUDCAD - buy after Preconditions: - key level; - accumulation; - wait for grown; You will learn the best place where we can trade this instrument at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
Long
by Yuriy_Bishko
6
AUDCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of AUDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 50 - Dec 07 M > Price tested monthly resistance and dropped for correction. It again returned backup to test monthly resistance facing rejection to the downside. W > After bullish impulse price had dropped till demand zone of same bullish move, we can expect price to continue with drop to test demand zone again. D > Price closed last week with bearish impulse breaking daily demand zone, we can expect market to open with a small upward correction to test demand zone as resistance before continuing with its bearish move. As per COT AUD closed major Long and and few Short, reducing net positions (now in -ve). However N-R added Long and closed Short, slightly improving cumulative net position. We have seen closure of Long and addition of Short in last couple of months, making net positions move from 16K to -11K. AXY strengthened to test monthly resistance again during the said period and it further strengthened last week. AXY is testing Aug 2018 level now and we can expect some short term correction as strong bearish divergence can be seen. CAD closed Long and further added Short positions, reducing net positions, however cumulative net position with N-R has improved. CXY strengthened during the said period and after testing monthly resistance it further gained strength last week and is now testing next resistance level. We can expect correction to the downside as strong bearish divergence can be seen for CXY. Last bearish move was due to strong CAD and not because of weak AUD however now with expectation of weak AUD as well as CAD we can expect pair to continue sliding down. 4H > Price is dropping with bearish momentum breaking demand zone, wait for price to return back to test this zone now as resistance for a Short entry. Pair Correlation > AUDCAD has positive correlation with AUDCHF, AUDUSD and AUDJPY and negative correlation with EURAUD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
AUDCAD - LONG; LongtermHere the upward sloping channel is indicative of the relative and ever increasing deterioration of the Royal Bank of Canada's balance sheet relative that of the Royal Bank of Australia's. - A significant and still increasing fiscal power versus new debt issuance capacity, advantage RBA. This unlikely to change anytime soon - i.e. for years if not more. Naturally this relationship remains entirely dependent on China's economic status, at any give time.
Long
by Nemo_Confidat