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Australian Dollar/Canadian Dollar

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AUDCAD trade ideas

Unleashing Trade Opportunities in Ranging Markets! AUDCAD📊 In this analysis, we dissect the AUDCAD currency pair, meticulously exploring its behavior on the 1D, 4H and 30m time frames. Brace yourself for insights into range-bound dynamics! 🎯 🔍 Key Takeaways: 💹 1: Learn how to spot breakouts when the market defies its established structure. 💹 2: Discover actionable strategies for capitalising on range-bound conditions. Remember, this content is for educational purposes only—always make independent trading decisions based on your risk management strategy.
by tradingwithanthony
2
AUD/CAD Day Trading AnalysisOn AUD/CAD, it's nice to see a strong sell-off from the price of 0.91130. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The downtrend combined with First VWAP standard deviation of the week are my main reasons for this short trade. Happy trading, Dale
by Trader_Dale
NFP trade I had this trade on SL zero and it dropped but riskyWe have recently broken above a couple of minor resistance barriers, so I do think that we have a certain amount of upward momentum that eventually has to be dealt with. In the short term, it looks like we consolidate a bit in order to work off some of the froth, and that's not a huge surprise considering both of these currencies are heavily influenced by commodities, and therefore it's kind of a push pull type of argument in general. This is a pair that does tend to be very choppy because there are very similar influences on each currency, so therefore it’s not as clear of a shot as something like the British pound against the Japanese yen, for example. Because of this, you will need to be a bit more patient with a move in this AUD/CAD market. There's no real easy path, unless of course, you have metals outperforming energy, for example, the Australian dollar is also highly sensitive to Asia. So, keep that in mind. Canada has the backing of the United States as far as economic demand is concerned. So, there are a lot of crosscurrents at the moment. Nonetheless, we are in an uptrend, and that means that buying the dip continues to be the most obvious trade here.
by EZIO-FX
Bearish Reversal Insight AUDCAD Technical Analysis & Trade SetupThe AUDCAD currency pair is currently forming a Bearish Butterfly Harmonic Pattern (XABCD), indicating a potential bearish reversal. Point D, the Potential Reversal Zone (PRZ), is aligned with a key resistance area and intersects a daily trend line, providing a strong confluence for a bearish bias. Potential Reversal Zone (PRZ) and Key Resistance: Point D is identified as a critical area where the price is likely to reverse. This zone is reinforced by a key resistance level, adding validity to the bearish outlook. The intersection with the daily trend line further strengthens the likelihood of a trend reversal from this point. Entry Strategy: To capitalize on the expected trend reversal, the entry should be made at the breakout of the support level near 0.90450. This level is crucial as a confirmed breakout here would signal the start of a bearish trend. Stop Loss Placement: A stop loss should be placed above the resistance level at 0.91400. This placement ensures protection against potential false breakouts and market volatility. Take Profit Targets: The take profit targets for this trade are as follows: TP-1: 0.89500 TP-2: 0.88550 TP-3: 0.87600 These targets are strategically set at significant support levels to maximize gains while managing risk effectively. Conclusion: The formation of the Bearish Butterfly Harmonic Pattern, combined with the confluence of the PRZ, key resistance area, and daily trend line, presents a compelling bearish setup for AUDCAD. By entering at the support breakout, setting a prudent stop loss, and targeting key support levels, this trade offers a favorable risk-reward profile for traders.
Editors' picks
Short
by trading_jupiter
27
Lingrid | AUDCAD divergence at RESISTANCE zone. ShortThe price perfectly fulfilled my last idea. It went up and hit the target. FX:AUDCAD has recently tested the resistacne level and bounced back, indicating a strong defense of this key area. Notably, the price has also rejected the zone by absorbing liquidity above the previous higher high, suggesting a potential reversal. Furthermore, the daily chart is displaying a divergence at resistance, hinting that we might see a correction in the coming days. On the 4H chart, a long-tailed candlestick pattern emerged, indicating that bulls were heavily sold off, leaving us with a clear indication of market weakness at resistance. Given these factors, I expect that the price will break through the upward trendline and retest the support level, potentially leading to a reversal or consolidation. My target is support level at 0.90800 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
3