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Audcadlong

AUDCAD Price Action Analysis | ProtradersNetwork.comAUDCAD started moving in uptrend again after breaking trendline and resistance of 0.9638 level, looks like the correction phase has been ended and now we are on the verge of next bullish move, also we have a Triple bottom or inverse head and shoulder pattern formed that is indicating a trend reversal to the upside, so now i am looking for buying opportunities on the retest of 0.9683 or 0.9638 based on price action confirmations. Join us at community.protradersnetwork.com for more free content.
Long
by Hamza_ProTradersNetwork
AUDCAD approaching 1st support, potential for bounce!Price is approaching our 1stt support, in line with our 23.6%, 61.8% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback support. We could potentially see a bounce and further rise up towards 1st resistance, in line with our 61.8% Fibonacci extension and horizontal swing high resistance. Price is also holding above the moving average support, showing bullish pressure in line with our bullish bias. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by TradeGATEHub
3
AUD/CAD Create Reversal Head And Shoulder Pattern......BUY N.B- AUD/CAD CREATE REVERSAL HEAD AND SHOLDER PATTERN. IF BREAK 0.94827 SUPPORT ZONE.THEN THIS ENTRY INVELID. SO,YOU CAN USE BUY STOP @0.95946 LEVEL. Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watch list and see if the rules of your strategy are satisfied.
Long
by AronnoFx
AUDCAD - Bullish BiasAUD - BULLISH 1️⃣ Risk sentiment was fuelled after the International Monetary Fund upgraded its global growth forecast. 2️⃣ The RBA held the cash rate target at a record low 0.1%, kept the size of its A$200 billion bond-buying program, signaling it is prepared to buy further bonds to help lower the jobless rate and spur wage growth. 3️⃣ The Australian Industry Group Performance of Construction Index jumped to a record high of 61.8 in March of in a sign of confidence that the country’s economy is on its path to a roaring rebound, while the IHS Markit Flash Australia Services Index was revised lower to 55.5 in March, signaling a further expansion in activity and new business. CAD - BEARISH 1️⃣ Concerns still exist about the prospect of producers returning significant amounts of crude to the market over the next three months. ===== Technical ===== We are buying the AUDCAD at RBS + above SMA 50 on the H1 chart. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction.
Long
by MonsunAsia
AUDCAD - Bullish BiasAUD - BULLISH 1️⃣ The RBA held the cash rate target at a record low 0.1%, kept the size of its A$200 billion bond-buying program, affirming its commitment to maintaining supportive monetary stance until at least 2024, while also signaling it is prepared to buy further bonds than its current $200 billion program if that helped lower the jobless rate and spur wage growth. 2️⃣ Job advertisements rose by 7.4% mom to the highest in twelve years of 190,542 in March, 10th straight month of gain. CAD - BEARISH 1️⃣ Concerns still exist about the prospect of producers returning significant amounts of crude to the market over the next three months. ===== Technical ===== - We are looking to buy the AUDCAD at RBS + above SMA 50 on the H1 chart. - RSI showed a bullish direction for this pair. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction.
Long
by MonsunAsia
AUDCAD Potential descending ChannelAUDCAD seems to be aligning for a potential long trade in the next few days/hours. The move could offer a decent r:rw however we need confirmation before committing. Analysis : We have many technical confluences from different timeframes here. Monthly: Even though last month closed as a strong bearish engulfing candle, price is currently re-testing the Monthly 50EMA and we can expect price to at least bounce off it. Weekly: Price is overall trending upwards, but we are currently in a pullback. This pullback is overextended and showing signs of exhaustion at strong dynamic support with the 50EMA on the way alongside an area of previous support and resistance Daily: Price has been on a bear trend for a long time but it's not showing bearish momentum as price becomes more and more corrective as it approaches key support at the 0.946 area. Intraday: Price is making lower highs and lower lows with decreasing momentum as it starts to show MACD divergence. We can see a forming structure which still needs more development. Trading idea: I will be waiting for price to create another leg short, then if price gives a proper rejection off the lower boundary of the descending channel/wedge in the intraday charts, I would go long with a very solid r:rw. A conservative target would be previous highs at the 0.956 area, however I think there could be potential for price to retest resistance at the 0.97 area. hope someone found this helpful!=) Let me know if you see something else in the chart
by Murci
Start dumping the CAD!! Long USDCAD, AUDCAD for 750 pipsSpeculators (Loonie longs) are starting to have a difficult time here to get any more skewed than they already are. (and all for what?!) Also, they are unlikely be able to take too much heat, in what is The Weakest FX (long) positioning in the civilized world, before a spectacular implosion. This one (title chart) is a severe liquidity issue, at best; The USDCAD Weekly; The AUDCAD Long is all about plain (insurmountable) capital flows - i.e. common sense;
Long
by Nemo_Confidat