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Australian Dollar/Canadian Dollar

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AUDCAD trade ideas

AUDCADBased on the bullish flag pattern and Elliott Wave analysis on the AUD/CAD pair's 4-hour timeframe, there seems to be a potential opportunity for a buying position. The bullish flag suggests a continuation of the previous uptrend, while the Elliott Wave count indicates the formation of the 12345 impulse wave sequence. This convergence of patterns could signal a strong upward movement in price, presenting a favorable entry point for buyers. However, it's crucial to implement proper risk management strategies and confirm signals with additional indicators before entering the trade.
Long
by forex_info
AUDCAD(Elliott waves)Hello friends In the AUDCAD currency pair, we see the formation of a 3-wave pattern. In counting Elliott waves, these 3 waves are considered either a zigzag pattern or 3 out of 5 impulse waves. Therefore, there is a need for price correction in both cases. Microwaves of wave 3 or C are clearly formed, except for its 5th wave. Therefore, we are currently waiting for the formation of the fifth wave, when the price should rise. 1.618 Fibonacci ratios between waves 1 and 3 or A and C are very common, and the price should reach the range of 0.9200. This number is both a trend and overlaps with a resistance and Fibonacci ratio. Therefore, we expect to reach this range. To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
Long
by M_Gheysvandi
audcad is bullish AUD/CAD is a so-called commodity currency pair is heavily reliant on commodity prices around the world. While Australia is the world's biggest exporter of iron ore, coal and aluminium oxide and one of the biggest exporters of petroleum gas and gold, Canada depends on its exports of crude oil, gold, sawn wood and raw aluminium. Any major price fluctuations of those commodities may result in the pair's rise or decline, depending on which economy suffers most. factors affecting the AUD/CAD rate include general economic indicators, such as unemployment rates, inflation data and GDP, and the central bank decisions regarding the interest rates in both countries.
Long
by MtICHI
AUDCAD - Already Over-Bought 📉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 AUDCAD has been overall bullish, trading within the rising wedge in red. At present, AUDCAD is approaching the upper bound of the wedge pattern acting as an over-bought zone. Moreover, it is retesting a strong resistance zone in blue. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline. 📚 As per my trading style: As #AUDCAD is hovering around the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
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