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CANADIAN DOLLAR / AUSTRALIAN DOLLAR

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CADAUD trade ideas

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