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AUD/CAD:DOWNTREND CONTINUATION|TECHNICAL+FIBO ANALISYS|SHORT🔔Welcome back Traders, Investors, and Community! Check the Links in Description and If you LIKE this analysis, Please support our page and Ideas by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Short
by FOREXN1
1
AUDCAD long trade signal - multi-timeframe analysisthe complete setup for AUDCAD in the monthly time frame and following the strategy about support and resistance strategy. we found the price moving in the down channel but there is a historical important support area in the monthly timeframe, so we should respect it. in the weekly timeframe, we couldn't admit that the price rejects the support area so we moved to the daily chart. we found a strong uptrend and that trend is broken trying to reach the bottom of the highest high of the uptrend and that is what the market did. so from this point, we are expecting the price will reject this area after the backtest and going up. moving to the COT report we found a huge volume for selling CAD currency, so we decided to buy AUDCAD. TRUST THE PROCESS #EG-Finance
Long
by UnknownUnicorn9076755
2
AUD/CAD Multi-Timeframe analysis (08/03/2021)Hi Traders AUD/CAD Multi-Timeframe analysis (08/03/2021) H1 Chart (Strong Down) The market is approaching the resistance at 0.97252 . We are waiting to see reversal signals in order to reinstate SHORT positions. Next important resistance is the 0.98225 level. Support & Resistance 0.97016 0.97252 0.96877 0.98225 0.96641 0.98733 H4 Chart (Bearish) Target 1 at 0.97224 has been reached. We closed 50% of our position and have moved the stop loss at the lock-in-profits level at 0.98522 . Provided the market conditions will remain the same Target 2 will be reached soon. Support & Resistance 0.98208 0.98711 0.97874 0.98975 0.97224 0.99371 Daily Chart (Neutral) Conflicting technical signals are indicating towards an unstable market, cautioning us to remain neutral and wait for a stronger trend to develop. Support & Resistance 0.97057 0.97130 0.96164 0.98993 0.95483 0.99921 Weekly Chart (Strong Up) Waiting for a retracement lower towards the 0.96954 support level, in order to reinstate LONG positions. Next important support is the 0.92464 level. Support & Resistance 0.96954 0.99921 0.92464 1.04093 0.91493 1.11412
Short
by Avramis