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Australian Dollar/Canadian Dollar

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AUDCAD trade ideas

AUD/CAD (1H) – Bearish Wedge Formation & Sell SetupMarket Overview: The AUD/CAD pair is currently forming a rising wedge pattern, a bearish signal indicating a potential breakdown. The price is consolidating within support and resistance levels, showing signs of weakening momentum. Key Technical Observations: 🔹 Rising Wedge Pattern: The price is making higher highs (HH) and higher lows (HL), but the structure is narrowing, indicating a potential breakdown. 🔹 Neckline Support: The key level to watch is 0.8990—a break below this support will confirm the bearish move. 🔹 Breakout Confirmation: A break below the neckline will trigger a strong downside move, confirming the wedge breakdown. Trade Setup: 📌 Sell Stop Entry: 0.8990 (Below neckline support) 📌 Stop Loss: 0.9036 (Above resistance) 📌 Take Profit 1: 0.8944 📌 Take Profit 2: 0.8898 Trading Plan: ✅ If the price breaks below the neckline at 0.8990, a sell stop order will be triggered. ✅ A stop loss is placed above the recent resistance at 0.9036 to minimize risk. ✅ If the price reaches TP-1 (0.8944), consider securing partial profits and adjusting the stop loss. ✅ A further decline towards TP-2 (0.8898) is expected if momentum continues. 💡 Conclusion: A breakdown from this wedge structure could lead to a strong bearish move. Traders should wait for confirmation below 0.8990 before entering the trade. 📉 Stay disciplined & trade with a strategy! 🚀
Short
by Asif_Iqbal_chaudhary
Navigating Down: AUDCAD Short Opportunity AwaitsAs we delve into the AUDCAD currency pair, a clear selling opportunity has emerged, driven by the insights from our EASY Trading AI strategy. With an entry price set at 0.90111, we aim for a strategic profit target of 0.89863, while implementing a protective stop loss at 0.9035. The rationale behind this bearish outlook is grounded in several factors. First, recent market trends indicate a stronger bearish sentiment, primarily driven by economic reports from Australia that suggest potential slowdowns in growth. This, combined with ongoing geopolitical tensions, may further pressure the AUD against its Canadian counterpart. Moreover, technical indicators align with our prediction, showing that the pair is currently trading near resistance levels, which historically have led to price reversals. The RSI also indicates that the AUDCAD is approaching overbought territory, reinforcing our decision to sell. For those trading this pair, maintaining a disciplined approach with set risk parameters is essential. By adhering to this strategy, traders can harness market fluctuations effectively while mitigating potential losses. Remember, the market requires patience and discipline; it's not just about the signals, but how you manage your trade that counts. Happy trading!
Short
by ForexRobotEasy
AUDCAD Buyers In Panic! SELL! My dear friends, Please, find my technical outlook for AUDCAD below: The price is coiling around a solid key level - 0.9015 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 0.8992 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
Bullish bounce?AUD/CAD is reacting off the support level which is a pullback support that lines up with the 23.6% Fibonacci retracement and could bounce from this level to our take profit. Entry: 0.9006 Why we like it: There is a pullback support level that lines up with the 23.6% Fibonacci retracement. Stop loss: 0.8976 Why we like it: There is a pullback support level that lines up with the 61.8% Fibonacci retracement. Take profit: 0.9044 Why we like it: There is a pullback resistance level that is slightly above the 138.2% Fibonacci extension. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
AUDCADHere's how the anticipated Australian economic data releases may affect the AUD/CAD trade directional bias today by 4;30am Key Data Releases and Potential Impacts: (1)Cash Rate (Forecast 4.10%, Previous 4.35%): Lower than Forecast (AUD Negative): If the actual cash rate is lower than the forecast of 4.10%, it would indicate a more dovish stance by the Reserve Bank of Australia (RBA), suggesting concerns about economic growth. This would likely weaken the AUD, leading to a potential decline in the AUD/CAD. As Expected (Neutral to Slightly AUD Negative): If the cash rate matches the forecast of 4.10%, the impact might be neutral, but the AUD could still face some downward pressure because it confirms the RBA is easing monetary policy. Higher than Forecast (AUD Positive): An unexpected hold or increase in the cash rate would signal a hawkish RBA, strengthening the AUD and potentially leading to an increase in the AUD/CAD (2)RBA Monetary Policy Statement & RBA Rate Statement: These statements provide context and reasoning behind the RBA's interest rate decisions and offer insights into the central bank's economic outlook and future policy intentions. Dovish Statements (AUD Negative): If the statements express concerns about economic growth, highlight downside risks, or signal further rate cuts, the AUD would likely weaken, pushing the AUD/CAD lower. Hawkish Statements (AUD Positive): If the statements convey confidence in the economy, emphasize inflation control, or suggest a willingness to raise rates if needed, the AUD would likely strengthen, potentially leading to an increase in the AUD/CAD. Upcoming Canadian CPI Data (2:30 PM) AND HOW IT WILL AFFECT TRADE DIRECTIONAL BIAS. CPI m/m (Forecast 0.1%, Previous -0.4%): Higher than Forecast (CAD Positive): If the actual CPI m/m is higher than the forecast of 0.1%, it would indicate rising inflation in Canada. This could lead the Bank of Canada (BoC) to maintain a hawkish stance or potentially consider future rate hikes, which would likely strengthen the CAD. Lower than Forecast (CAD Negative): If the actual CPI m/m is lower than the forecast, it would suggest easing inflationary pressures. This could prompt the BoC to consider a more dovish approach, potentially weakening the CAD. Median CPI y/y (Forecast 2.5%, Previous 2.4%): Higher than Forecast (CAD Positive): A higher-than-expected median CPI y/y would signal that underlying inflation is increasing, reinforcing the potential for a hawkish BoC stance. Lower than Forecast (CAD Negative): A lower reading would suggest that underlying inflation is easing, potentially leading to a more dovish BoC. Trimmed CPI y/y (Forecast 2.6%, Previous 2.5%): Higher than Forecast (CAD Positive): Similar to the median CPI, a higher-than-expected trimmed CPI y/y would strengthen the case for a hawkish BoC. Lower than Forecast (CAD Negative): A lower reading would support a more dovish BoC. Common CPI y/y (Forecast 2.1%, Previous 2.0%): Higher than Forecast (CAD Positive): An increase in the common CPI y/y would generally be seen as positive for the CAD. Lower than Forecast (CAD Negative): A decrease could weigh on the CAD. Core CPI m/m (Previous -0.3%): Higher than Previous (CAD Positive): If the actual core CPI m/m increases from the previous -0.3%, it would generally be seen as positive for the CAD. Lower than Previous (CAD Negative): A further decrease could weigh on the CAD. Impact on AUD/CAD: CAD Strengthening: If the CPI data is generally higher than expected, the CAD is likely to strengthen, potentially leading to a decrease in the AUD/CAD. CAD Weakening: If the CPI data is generally lower than expected, the CAD is likely to weaken, potentially leading to an increase in the AUD/CAD. Current Head of the Bank of Canada: The current Governor of the Bank of Canada is Tiff Macklem. He was appointed to the position effective June 3, 2020, for a seven-year term. RBA Policies: The Reserve Bank of Australia (RBA) monetary policies will also influence the AUD/CAD. Trump's Tariff Threat: Bank of Canada Governor Tiff Macklem has stated that President Donald Trump's tariff threats are already having an impact. Economic growth forecasts: The Bank has adjusted its economic growth forecast down to 1.8 percent for 2025. Disclaimer: This analysis is based on forecasts and expectations and is not a guarantee of actual market movements. Trading currencies involves risk, and you should consult with a financial advisor before making any trading decisions.
by Shavyfxhub
AUDCAD: Bearish Cross kickstarting a decline.AUDCAD is practically neutral on its 1D technical outlook (RSI = 55.879, MACD = 0.001, ADX = 33.394) and got rejected on both the 1D MA100 and MA200 that formed a Bearish Cross. The Channel Down mimics the June 30th 2023 Cross that then pushed the price to the bottom of the Rectangle on the 1.382 Fibonacci extension. Go short, TP = 0.86600. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
Idea for FridayThe Canadian dollar strengthened against the greenback on Friday, and the yield on benchmark government debt slipped. The loonie was trading 0.2% higher at C$1.4163 to the greenback, or 70.61 U.S. cents, after trading in a range of 1.4156 to 1.4201. Canadian government 10-year bond yields fell 3 basis points to 3.087%. The yield on similar U.S. government benchmark debt fell to 4.4724%. U.S. March crude futures rose 20 cents to $71.49 a barrel on Friday. Canadian factory sales fell 0.3% in December from the previous month, Statistics Canada said. Analysts polled by Reuters had expected factory sales growth of 0.7%.
by EZIO-FX
Possible bearish breakout and whyMy analysis show that bears have the upper hand as the changed the trend a bit by breaking below the CHoC and currently the price is now in a range between support and resistance Since bears had a potential market control we can assume that the range is likely to be broken below(support) all the way to the Demand level and this will confirm bears are in control of the price and we should look for selling opportunities so all in all wait for a break below before entering, market confirmation is important
Short
by StarleXtheTrader