AUDCAD approaching resistance, look out for potential reversal!
AUDCAD is approaching its resistance at 0.92142 where it is could reverse down to its support at 0.91288.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Audcadsetup
AUDCAD IS AT A MAJOR SUPPORT ZONEAUDCAD has been travelling in a descending channel and the most recent interaction with the channel was the top.Price hit the top of the channel ,came back down and has reached a major support zone.
Price will either break below the support zone, come back up to retest it. We could then see a large rally down, however if price makes a higher high and breaks above the channel we could see a very large rally upwards.
AUDCAD approaching resistance, look out for potential reversal!AUDCAD expected to rise up to 1st resistance at 0.92216 where it could potentially react off and drop down to 1st support at 0.91456.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
AUDCAD approaching resistance, look out for potential reversal!AUDCAD is approaching its resistance at 0.92279 where it is could reverse down to its support at 0.91625.
Disclaimer:
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUD/CAD Short Idea (6/4/19)AUD/CAD Short Idea (6/4/19) 4HR Chart
- We have had 3 pins to the upside on the daily after the close, which shows signs of a reversal.
- Looking for the AUD news at 8:30pm CT to push price into the disturbance level creating another wick on the daily and then the reversal towards the fib extensions.
- Targets @ 0.94000 and 0.90400
AUDCAD Bearish Sell Offs Again?#AUDCAD has broken an ascending trend line and fallen, creating a new lower low. If price can reject my zone, I will be looking for long-term selloffs. The potential sell target price is 0.91000
If price breaks the zone to the upside, a re-evaluation will need to be done. But, until then, sells are looking like the best option.
AUDCAD IS AT A MAJOR LEVELAUDCAD is at a major level right now, the area of support it is at has been tested and failed to break it multiple times. The overall bias of price action is downwards due to the descending trend line marked out in black.
Price is travelling in a descending channel marked out in blue, If price rejects the area of support its at now then we will be waiting for price to break the channel, retest it before we think about any long trade opportunities. However if price breaks below the pink rectangle and comes back up to retest it we will be looking for short trade opportunities.
LEAVE YOUR THOUGHTS BELOW.....