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AUSTRALIAN DOLLAR / CAX

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AUDCAX trade ideas

AUDCAD Short Trade Setup A #short trade opportunity recently presented itself on the #aussieloonie (#AUDCAD) #trading chart 📉. This is indicated by the #bearish engulfing candlestick 🕯️ pattern just below the 0.90717 horizontal resistance level. This indicates a rejection of the same level, with potential price move in the downward 👇 ⬇️ direction (#sell). Sufficient downward momentum should see price dumping towards the 0.88500 psychological level and possibly testing the strength of the 0.88046 horizontal support level. As always, please apply appropriate risk management. Happy trading! #crosspair
Short
by charles-okoukoni
2
AUDCAD Will Collapse! SELL! My dear friends, My technical analysis for AUDCAD is below: The market is trading on 0.9059 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 0.8998 Recommended Stop Loss - 0.9098 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
AUDCAD - AB=CD PatternAUDCAD has been trading in a strong Bullish Trend. After a short period of retracement at the 0.89791 price level, the Bullish run has continued. Following the strong Bullish run, the price action has formed an AB=CD pattern, following which strong divergence has been observed on the RSI on the 1 hour timeframe, hinting a strong reversal into a Bearish trend, if the price breaks the 0.90274 level. Trade Plan: Short Entry: 0.90235 SL: 0.90785 TP1: 0.89680 TP2: 0.89130
Short
by WaqasWasi
AUDCAD - Long from trendline ✅Hello traders! ‼️ This is my perspective on AUDCAD. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look only for long position. I want price to continue the retracement to fulfill that huge imbalance and then to reject from trendline + institutional big figure 0.90000. Fundamental news: This week on Friday (GMT+3) we will see results of Unemployment Rate on CAD, news with high impact on currency. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
2
AUDCAD - Daily AnalysisI'm looking at the Australian Dollar Cross Canadian Dollar pair this week. Looking back at this pair. I can see it has been very bearish over the span of 247 days, give or take. 27 Jan - 27 Sep. This massive 970+ pip range was unable to break the previous swing low resulting in a change of market structure. This shift in bullish momentum tells me those prior lows are protected. This is indicated by a new HH. We had inducement in the leg which led to the demand still showing strong potential as a valid POI as seen in the chart. From here I'm looking to stack my positions at 0.88610. Structure is clearly bullish. price swept the low from the last HL. Showing its intentions of wanting to trade higher. Price is also pro trend on the 4H and Daily. AUD/CAD is maintaining above 0.8600, a good support level from the end of 2022. However, this does not necessarily indicate that the downtrend is reversing. it may, but the cross would first need to break above the 89-day moving average, which coincides with the upper margin of a declining channel since mid-2023. Hope this is useful.
Long
by grnntom
Whispers of the Estate: Strategy to Short the AUDCAD A Decree to Diminish the AUDCAD Ah, dear interlocutor, allow me to discourse upon the forex pair AUDCAD with the eloquence and refinement befitting our station. The pairing of the Australian Dollar (AUD) and the Canadian Dollar (CAD) is a matter of profound interest and intrigue within the realm of foreign exchange. Both currencies hold sway over vast territories and economies, each bearing the distinctive marks of their respective nations' fiscal policies and economic performances. The Australian Dollar, emblematic of the antipodean dominion, draws its strength from the robust industries of mining, agriculture, and commodities. Its fortunes often dance in tandem with the ebbs and flows of global demand for raw materials, particularly from the burgeoning markets of Asia. In contrast, the Canadian Dollar, with its roots entrenched in the expansive landscapes of the North American continent, derives its resilience from a diverse array of sectors. Noteworthy among these are the energy resources, including oil, which exert a formidable influence on its valuation. When these two currencies converge upon the forex stage, a ballet of economic forces ensues, choreographed by market sentiment, geopolitical developments, and shifts in global trade dynamics. Traders, akin to astute observers in a grand theater, meticulously analyze these movements, seeking to discern patterns and trends that may herald opportunities for profit. Yet, amidst the fluctuations and fluctuations of the forex realm, the AUDCAD pair stands as a testament to the interplay of distant lands and disparate economies, bound together in the intricate tapestry of international finance. In my humble opinion AUDCAD will be rather extended @ 0.91000, therefore one anticipates a rebalance therefore I will be entering short.
Short
by MarkLeRoy
AUDCAD Prediction Of Its Next Moveif we do a back test we will see that the price is standing at a very strong area of resistance and support that pushes the price strongly. i will wait for the daily candlestick closure to see how the price will react to it. if the daily candlestick failed to close above and at the same time i get a good bearish price action i will sell AUDCAD at once. those are my conditions to sell AUDCAD. Tell me yours and your thoughts in the comments.
by Forex_Wealth_Factory