AUDCAD - 4hrs ( Buy Trade Target Range 150 PIP ) 🟢 Pair Name :AUD/CAD
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
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🟢 Key Technical / Direction ( Long )
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Bullish Break
0.92000 Area
Reasons
- Major Turn level
- Visible Range Hvn
- Pattern Break
- Choch Zone
- Month High Area
Bearish Reversal
0.93600 Area
Reasons
- Major Turn level
- Visible range Lvn
- Choch
- inner Top
- Quarter's High Area
AUDCAD trade ideas
AUD/CAD Sell Strategy: Testing Resistance with Downside Targe
Trade Setup: AUD/CAD is currently selling at 0.9266, targeting 0.8939.
Key Resistance Level: The 0.9270 level acts as resistance, aligning with a significant Fibonacci retracement.
Recent High & Low:
High: Recent high around 0.9380.
Low: Current low near 0.9102.
Technical Signals:
Resistance at 0.9270 marks a potential reversal zone, reflecting selling pressure.
Bearish momentum is expected toward 0.8939, which is contingent on sustained downward movement.
Market Context: Recent highs and lows frame a broad trading range, with Fibonacci levels adding technical validity to sell-side positions near resistance
7-11 AUDCAD:a clear signal that our system indicated: a Score of +7 built up from Cot Data 2, Retail sentiment 1, Seasonality 1, Trend reading 2, GDP 0, Manufacturing PMI 0,
Services PMI 1. from the beginning of this year increasingly higher highs. we have placed a buy at 0.92650 with a first target of 0.93580.
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Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low Point
Stop Loss 🛑 : Recent Swing Low using 2h timeframe
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BEARISH signal with AUDCAD
As of November 7, 2024, the AUD/CAD currency pair is exhibiting several bearish indicators:
Technical Indicators:
1. Moving Averages: The pair has experienced bearish crossovers with its 20-period and 50-period moving averages on the 1-hour timeframe, suggesting downward momentum.
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MACD: A bearish divergence is present on the 2-hour and 4-hour timeframes, indicating potential downward movement.
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2. Resistance Levels:
The price has encountered resistance near 0.9200, which aligns with the 38.2% Fibonacci retracement, reinforcing the bearish outlook.
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3. Market Sentiment:
Analyst opinions are mixed, with some short-term indicators suggesting a sell, while medium to long-term indicators lean towards a buy.
FX LEADERS
AUDCAD LongThe Relative Strength Index (RSI) is showing bullish divergence, which indicates that while price has been making lower lows, the RSI is making higher lows. This signals a potential reversal to the upside as selling momentum weakens.
AUDCAD has broken above a significant downward trendline, suggesting a shift in momentum from bearish to bullish. This is often a strong signal of a potential trend reversal.
After breaking a trendline, price often retests the breakout level, giving traders an opportunity to enter the trade at a better price. Buying at this retest level allows for a more favorable entry with reduced risk
AUSSIE STRENGTH OVER THE CANADIANS?Commodity Prices:
Both Australia and Canada are major exporters of commodities, particularly metals and energy. If there has been a rise in commodity prices (such as iron ore, oil, or copper), it can benefit the Australian Dollar (AUD) if these prices are moving in Australia's favor.
For example, if oil prices (which directly affect the Canadian economy) have dropped, it could hurt the CAD, making the AUD relatively stronger.
Economic Data:
Positive economic data from Australia (like strong GDP growth, employment figures, or retail sales) can boost the AUD.
Conversely, weaker-than-expected economic data from Canada (such as lower-than-forecasted GDP growth, inflation figures, or trade balances) could make the CAD weaker and lead to a stronger AUD/CAD.
AudCad Trade IdeaAudCad has been extremely bearish for some time now! We did have price go bullish for the moment before price decided to go short again with smaller time frames to support the bears. I personally just shorted the pair with price shifting back to bearish at a resistance level. I'm looking for a 1:3rr on this set up.
AUDCAD Is Going Up! Buy!
Here is our detailed technical review for AUDCAD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.919.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.937 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
AUDCAD about to Pop to the upside.
Another setup I like mostly from this Daily chart. Price recently decoupling from a falling-wedge and moving briefly to a nearby liquidity zone and then shaping up to move upwards.
Trade has plenty of upwards momentum and should be a good riser commencing very soon.
I have bought at current levels around 0.9195 and SL at 0.9184, quite tight.
For educational purposes on tradingview only.
AUDCAD Long PositionHigher Highs (HH) & Higher Lows (HL): The pattern of higher highs and higher lows is an indication of an uptrend, showing that the buying momentum is strong.
Trendline Break and Retest: The break above a key trendline signals a shift in market sentiment toward the upside. A retest of this trendline provides an opportunity to confirm the trend change as previous resistance becomes new support.
Buy Stop Above Recent Higher High (HH): Placing a buy stop order above the most recent higher high allows you to enter the trade only if bullish momentum continues, reducing the risk of entering on a false breakout.
Entry: Place a buy stop order just above the recent higher high (HH). This allows you to enter the trade if the price continues moving upward, confirming the bullish momentum.
Stop-Loss: Place a stop-loss order below the most recent higher low (HL) or below the retested trendline. This helps to protect against a potential reversal and limits risk.
AUD/CAD Day Trading Analysis With Volume ProfileOn AUD/CAD , it's nice to see a strong buying reaction at the price of 0.91130.
There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again.
Fair Volume GAP + Uptrend and high volume cluster are the main reasons for my decision to go long on this trade.
Happy trading
Dale
AUDCAD in support area. Are we ready for reverse?Hi traders, AUDCAD is in support from its temporal bearish movement.
Although the primary trend is bearish, we might see reverse movement from AUDCAD.
In small timeframe, we already see AO indicator in positive area and we might see reverse in short term.
Good luck!