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AUDCAD trade ideas

AUDCAD Potential Drop after Rejection from ResistanceAUDCAD is currently experiencing a pullback toward the resistance zone and the upward trendline area. On the 4-hour timeframe, the market has been forming lower lows and lower closes, indicating a bearish trend. After a significant decline, the price is now approaching the 50% retracement level of that move. This area may act as resistance, potentially leading to a continuation of the downward movement. The target is the support zone around 0.9070
Short
by RTED_Investing
AUDCAD Short PositionThe AUD/CAD pair is exhibiting signs of bearish momentum, suggesting a potential decline in the near term. Technical indicators and price action analysis support this outlook. Technical Indicators: Relative Strength Index (RSI): Currently at 39.396, indicating bearish conditions. Moving Averages: Both simple and exponential moving averages (5, 10, 20, 50, 100, and 200 periods) are signaling a 'Sell'. Price Action: The pair is trading near a resistance level around 0.9120, which has previously acted as a barrier to upward movement. The recent price action suggests a potential reversal from this resistance zone. Considerations: Economic Indicators: Monitor upcoming economic releases from Australia and Canada, such as employment data and GDP reports, as they can influence currency movements. Commodity Prices: Both the Australian and Canadian dollars are influenced by commodity prices, particularly gold and oil. Fluctuations in these markets can impact the AUD/CAD pair. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading forex involves significant risk, and it's essential to conduct thorough research and consider your financial situation before making trading decisions.
Short
by riskyricky
AudCad Trade IdeaYesterday I published a short set up for AC stating I wanted to see price break below a strong level of support with retest before looking to short the pair. I said If all goes well we could definitely expect price to tap back into 90400 or at least around that level. Price has been ranging between 91200 and 90400 so going short after a break of structure was my priority with price failing to break to the upside MULTIPLE times. We'll see how price plays out. Might be my last trade for the week with a bunch of news flooding because of the holiday being around the corner.
Short
by OfficialJ23
#AUDCAD 4HAUDCAD 4-Hour Analysis The AUDCAD pair is approaching the lower boundary of a well-defined channel on the 4-hour chart, which acts as a key support level. This support zone has historically triggered bullish reversals, but waiting for the price to touch the channel support ensures a more reliable entry point. Technical Outlook: - Pattern: Channel Support - Forecast: Bullish (Wait for Support Touch, Then Buy) - Entry Strategy: Buy near the channel support line after confirmation from price action. Traders should look for bullish signals such as a reversal candlestick pattern (e.g., bullish engulfing) or indicators like RSI showing oversold conditions to validate the buy setup. Proper risk management is crucial, with stop-loss orders placed below the channel support to protect against potential breakdowns. Target the upper boundary of the channel as the next resistance level.
Long
by PIPSFIGHTER
Bearish drop?AUD/CAD is reacting off the resistance level which is an overlap resistance and could drop from this level to our take profit. Entry: 0.91125 Why we like it: There is an overlap resistance level, Stop loss: 0.91526 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Take profit: 0.90536 Why we like it: There is an overlap support level. 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.
Short
by VantageMarkets
AUDCAD Superswing to 0.9400AUDCAD has been trading within an upward channel since September 2023. Currently, the price is near the bottom of the channel, reacting to the 0.618 Fibonacci level (drawn from the low of August 5th, a pivotal day for this pair). The plan is to wait for a confirmation of a structural shift on the 4H chart, followed by a retest, and enter a long position around 0.9120. Partial profits will be taken progressively, with the final target set at 0.94. Stay tuned for updates on my trade: entry, take-profit levels, and exit strategy. See details on my signature to get in touch with me. Good luck!
Long
by zito82
AudCad Trade IdeaAudCad has been bearish for some time now. Cad did have news at 8:30am so I do want to give price some time to dial down. Although there isn't much volatility showing. I personally want to see price break and retest to the downside with price being bearish on both higher and lower time frames. The lower time frame just flipped which is why you can see a bearish candle with a wick. The retest to the downside would be solid confirmations to short the pair for a potential 1:3rr. We'll see what happens.
Short
by OfficialJ23
Lingrid | AUDCAD short After REJECTION of the RESISTANCE zoneThe price perfectly fulfilled my last idea. It hit the target level. FX:AUDCAD is gradually pulling back toward the resistance zone and the upward trendline area. Overall, the market is making lower lows and lower closes on the 4H timeframe. After a significant bearish move, the price is currently positioned to retest the 50% retracement level of that decline. I anticipate that the market to reject the resistance zone and continue moving downward. My goal is support zone around 0.90700 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
11
AUDCAD Buy ForecastAUDCAD New forecast👨‍💻👨‍💻 Note: Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP. Please support this idea with a Like and COMMENT if you find it useful click "follow" on our profile if you will like these type of trading ideas delivered straight to your email in the future. Thanks for your continued support!! lemme know your thoughts in the comment sec...
Long
by King_CityStar_Fx