Audcadsignals
AUDCAD Rebounding with the 1D MA50 being the key to a break-out.The AUDCAD pair has on a 2 day rebound after the pull-back on the 1D MA50 (blue trend-line) rejection on October 27. This couldn't have validated better our previous analysis on September 20:
As you see, the 1 year Lower Lows Zone is holding and as long as it does, the price should push for a new Lower High or at least a 1D MA200 (orange trend-line) test. Practically, we can only trade this based on how the 1D MA50 pivots. A 1D closing above the 1D MA50 would be a bullish break-out signal targeting the 1D MA200, while a further closing above it, would target the 1W MA300 (red trend-line) that had its most recent test on April 05.
At the same time, the more the price fails to close above the 1D MA50, the stronger of a Sell Signal it becomes, targeting the 1 year Lower Lows Zone.
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AUDCAD Still bearish unless this level breaksThe AUDCAD pair is following our trading plan to the point since our last analysis (August 12), which was a sell signal following the 1D MA200 (orange trend-line) rejection:
As you see nothing has changed, the price got emphatically rejected on the 1D MA200 and entered a Channel Down that has already hit our first target (0.89120). There is no diversion yet and as long as the Channel holds (especially the 1D MA50 (blue trend-line)), it could target on the medium-term the 1 year Lower Lows trend-line.
This pattern is invalidated only if the 1W RSI Symmetrical Resistance Zone breaks, or the price breaks above the 1D MA200, in which case we will take it as a buy signal, targeting the 1W MA300, which had the April 05 rejection.
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AUDCAD is awaiting breakdown!AUDCAD (D) long-term bearish market, currently the price has formed a head & shoulder which has broken to the downside with long rejection from the top with a Doji. It is a high probability that the price will continue to drop as the bulls are completely exhausted by creating a series of lower highs. Upon retest of the neckline of the head & shoulder on the lower timeframe, we could see a drop on AUDCAD to the support level.
AUDCAD Important 1D MA200 test. Low risk trades around it.The AUDCAD pair has been on a strong rise since the July 13 Low on the 1 year Lower Lows zone. That was a buy signal that we posted exactly a month ago:
The rebound has now reached the critical 1D MA200 (orange trend-line), which has been the Resistance in the past 3 months. The last Lower Low on January 28 2022, had a rally that did break above the 1D MA200 and only stopped (and got rejected) on the 1W MA300 (red trend-line). With the 1W RSI being on a rebound following its contact with its long-term Buy Zone, this is quite likely to happen again.
As a result, a low risk trading approach right now is to buy only if we close above the 1D MA200 and target just before the price hits the 1W MA300. Until the break-out happens, we can take a short-term sell, targeting the 1D MA50 (blue trend-line).
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AUDCAD Testing the 1 year Support Zone!The AUDCAD pair dropped sharply yesterday, negating the gains of the past 5 days combined. In doing so, it touched again the Lower Lows zone trend-line that started after the July 30 2021 Low and has been supporting with rebounds ever since.
With the 1W RSI well within its own Buy Zone since July 01, this is a solid buy opportunity at least on the short-term towards the 1D MA50 (blue trend-line). A break above can see a buying extension to the 1D MA200 (orange trend-line). Long-term buy positions can only be taken after a weekly candle closing above the 1D MA200.
On the other hand, a break below the Lower Lows can be taken advantage with a sell hedge short-term, targeting the -0.5 Fibonacci extension.
Previous AUDCAD signal:
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AUDCAD Bearish unless the 1D MA200 breaksThe AUDCAD pair has been trading within a Channel Down pattern since the April 05 2022 High. Four days ago, it made a Lower High on the Channel Down and got rejected just below the 1D MA50 (blue trend-line), while also forming a Death Cross (when the MA50 crosses below the MA200). The 1D MACD is about to make a Bearish Cross, so it times well for a Sell trade to a new Lower Low, despite the significance of the 0.89100 Support, towards the 1.182 and 1.382 Fibonacci extension levels (the latter only if after a bounce the 0.89100 level rejects an uptrend attempt.
On the other hand, if the price breaks and closes an 1D candle above the 1D MA200 (orange trend-line), as it did in late February 2022, be ready to counter with a buy, targeting the 2.0 Fibonacci extension around 0.94500.
P.S. See a longer-term picture as presented by our last AUDCAD idea almost 2 months ago that based on a 2020/21 fractal, it hit its target:
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AUDCAD formed a bearish reversal pattern.The AUDCAD pair just hit the 1D MA50 (blue trend-line) after a rejection on the 0.95200 level. This resembles the February 25 2021 rejection of a similar 1-6 fractal in late 2020/ early 2021. We do expect a test of the 0.89125 low by Q3, however are prepared to take the loss and turn to buying if 0.95200 breaks, which is the invalidation line.
Most recent AUDCAD signal:
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AUDCAD | New PerspectiveWith the current structure, the Aussie appear to extend gains above 0.95 in the coming week(s). As of the time of publication, a reversal set-up has been identified within the demand zone at the 0.934 area where we shall be looking for a signal to buy at a breakout of the key level which also serves as the neckline of the reversal structure.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
AUDCAD | Perspective for the new weekThe scope of a very strong bearish momentum on the daily time frame and a reversal set-up (double top) within the major supply zone at C$0.92400 shares a confluence with the bearish trendline to signal a selling opportunity for us in the coming week(s).
Tendency: Downtrend (Bearish)
Structure: Supply & Demand | Trendline | Reversal pattern (Double Top)
Observation: i. Despite a long term bearish momentum identified on the higher time frame, the last 30 days witnessed a consistent rise in the value of the Aussie over the Canadian dollar but the momentum appears to be thinning out and this can be identified on the chart as a double top structure.
ii. Attempts made by buyers to break above C$0.924 was met with strong resistance during last week's trading session to insinuate that the bullish trendline may no longer be strong enough to hold price action above it.
iii. It is worthy to note here that, the reversal set-up (double to pattern) awaits confirmation at the breakdown of key level @ C$0.91600 to incite the risk of a decline in price value in the coming week(s).
iv. In this regard, I shall be waiting to take advantage of selling the Aussie anywhere below the key level @ C$0.916000... Trade consciously!😊
Trading plan: SELL confirmation with a minimum potential profit of 200 pips.
Risk/Reward : 1:3
Potential Duration: 3 to 8days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
AUD/CAD 4HR SELL SET UPHi TRADERS this is my trade set up for the AUD/CAD
AUD/CAD Is coming in to a area of interest, we have a nice rejection zone, looking for sell only
This is my analysis only please trade with caution and risk management in place
clean crisp charts I hope it helps if you have any questions please private message me
good luck for this weeks trading
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AUDCAD made a bottom and is targeting the 1D MA200.Pattern: Bearish Megaphone on the 1D time-frame.
Signal: Buy as the price hit the bottom (Lower Lows trend-line) of the Megaphone while the 1D MACD is about to print a Bullish Cross, which since August has signaled a rise.
Target: The 1D MA200 with a rough projection at 0.9200.
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