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Audcadshort

AUDCAD potential for further downside beyond pivot, further dropAUDCAD is currently hovering above 1st resistance in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. If prices break through 1st resistance, a further drop is expected towards horizontal overlap support in lie with 50% Fibonacci retracement and 50% Fibonacci extension. If prices reverses from 1st resistance, prices might face resistance from 127.2% Fibonacci retracement and 78.6% Fibonacci extension. MACD is also showing a bearish crossover, showing a bearish pressure for prices.
Short
by TradeGATEHub
1
AUDCAD approaching 1st resistance, potential for a reversal!Price is approaching 1st resistance, in line with 50%, 61.8% Fibonacci retracement and horizontal pullback resistance, where we could potentially see a reversal and drop further towards 1st support, in line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support. Price is also holding below the Ichimoku cloud resistance, showing signs of bearish pressure as well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub
AUDCAD holding below descending trendline! Potential for drop!Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistances, in line with our bearish bias. We could potentially see a reversal at 1st resistance in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance, and further downside towards 1st support, in line with 61.8% Fibonacci extension and horizontal swing low support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub
AUDUSD TRADEAUDSD DAILY 1. Daily trend bias based on the 8/13 EMA is short 2. Last retracement zone at 0.5 qualifying for this to be identified as a wave 2 Daily timeframe 3.Economic news that may affect this trade is *Fed's Chair Powell speech on Wednesday 14/5/2021 and Australia's employment numbers on Thursday 15/4/2021 4. Extension zone 1.272 was hit Hourly Pattern is a 3 wave move 1. Previous move completed is A hourly with 5 micro sub waves. 2. Current move at B hourly Sub waves A was completed, so was B 3 wave move to a retracement zone of 0.5 15 MINUTE ***Wave to trade is sub waves of C micro--Wave 1 is completed awaiting retracement 2 AT 0.618 AS ENTRY 1.
Short
by Beclinks_Capital
AUDCAD facing bearish pressure, potential for further downside!Price is facing bearish pressure as it continues to hold below both descending trendline and Ichimoku cloud resistance, in line with our bearish bias. We could potentially see price reverse at 1st resistance, in line with 38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback resistance, and further downside towards 1st support, in line with 78.6% Fibonacci extension and horizontal swing low support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub