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AUDCAD LONG Trade ManagementI am currently long AUDCAD with +480 pips across two lots. Price has reached an untested supply zone and is also up against a 78.6 fib extension and 50.0 fib retracement level. I am going to go ahead and scale down my positions, take profit and move my stops to trail from break even. Short, medium, and long term indicators support both a strengthening Aussie and Canadian dollar, which can be a little tricky to navigate. In a perfect world you want to see one strong and/or strengthening currency against a weak and/or weakening. Thus I think it prudent to go ahead and take some dinero off the table.
Long
by thetradeWELL
AUD/USD BULLISH OUTLOOKThe USD, having experienced substantial blows from rate cut projections, faces a challenging scenario with the Fed signaling probable easing. Despite the narrative of falling inflation, policymakers are aiming to relay the message that inflation has yet to stabilize sustainably near the targeted 2%. The looming Fed speeches, particularly Chair Powell's impending remarks, serve as preludes to the blackout period before the December policy meeting, crucial in shaping market expectations. As the USD grapples with uncertainties, major currency pairs are capitalizing on its weakness. The AUD, alongside currencies like the GBP and NZD, has displayed resilience, buoyed by a hawkish tone from the Reserve Bank of Australia (RBA). However, doubts persist about China's economic revival, making forthcoming Australian CPI readings pivotal for short-term AUD prospects. The AUD/USD technical indicators signal a bullish trajectory, with both MACD and RSI showing buy signals. The current trend could potentially elevate the price to levels around 0.6795, although a pivot point at 0.6648 might redirect the price to around 0.6598. With the USD on a downtrend, and pivotal economic events looming, the AUD's performance against the greenback hinges heavily on data releases, central bank policies, and global economic sentiments in the days ahead. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Long
by legacyFXofficial
AUDCHF On the verge of a strong move.The AUDCHF pair has been trading within a Channel Down since February's High and currently sits just below its top (Lower Highs trend-line). Having formed a 1D MA50/ 100 Bullish Cross and tests the Lower Highs for the 3rd time in 2 months, it is highly likely to finally break the bearish trend upwards. We will only buy though above the 1D MA200 (orange trend-line) and aim towards Resistance 1 at 0.61500. Until this break-out, we will follow the long-term bearish Channel Down and short aiming at 0.53500 (-9.09% similar to the two previous bearish sequences). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
EURAUD to see a reversal?EURAUD - 24h expiry Price action has continued to trend strongly lower and has stalled at the previous support near 1.6600. Price action looks to be forming a bottom. We expect a reversal in this move. A move through 1.6650 will confirm the bullish momentum. The measured move target is 1.6700. We look to Buy at 1.6600 (stop at 1.6560) Our profit targets will be 1.6700 and 1.6720 Resistance: 1.6650 / 1.6675 / 1.6685 Support: 1.6625 / 1.6600 / 1.6575 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
EURAUD Last chance to enter.If you missed our buy entry on the EURAUD pair (September 28, see chart below), don't be alarmed, the market is providing once last chance to enter: As we identified on that analysis, the most optimal buy entry was below the 1D MA100 (green trend-line), which is where all previous technical Higher Lows of the 1 year Channel Up were priced. That completed a -4.41% decline from the Higher High, similar to January 27. The minimum bullish sequence within this Channel Up has been +7.72%, but due to the presence of the Inner Higher Highs trend-line, we have to lower our long-term target from 1.7500 to 1.7350. As you can see, the price is now again marginally below the 1D MA100, giving one final opportunity for buyers to join. It is on the same symmetric 0.786 Fibonacci level, which when it broke during previous Higher High rallies, the pair went for a new peak. The bullish break-out signal can be given with a candle closing above the 1.6850 Resistance. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
AUDJPY possible expansionAfter price broke structure with momentum, it gradually retraced back towards a demand zone that it left behind during the expansion. It then started to consolidate, forming liquidity right above this demand, which could fuel price's expansion to the upside after imbalance has been filled and the demand has been mitigated. Due to price being in a bullish trend, our latest high is weak and thus makes it a target for price as it contains liquidity.
Long
by BlackTygaTrades
1
GBPAUD - Trading The Channel 📈Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPAUD has been trading inside a big range between our green support and blue resistance. Lately GBPAUD has been bearish trading inside the falling red channel and it is currently approaching its lower bound. Moreover, the zone 1.89 - 1.895 is a strong support. 🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline acting as a non-horizontal support. 📚 As per my trading style: As #GBPAUD approaches the lower red circle zone, I will be looking for bullish reversal setups (like a double bottom 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
4
GBPAUD Sell gaining ground but needs the 1D MA200 to confirm.The GBPAUD pair broke below the long-term Channel Up that it has been trading in since the start of the year and a Channel Down emerged as last week we had a rejection on the 1D MA100 (green trend-line). That is the top (Lower Highs trend-line) of the Channel Down and the most optimal sell entry. However the 1D MA200 (orange trend-line) is still supporting, so we need a candle closing below it in order to confirm the sell (earlier confirmation would be the 2nd MACD Bearish Cross). In that case we will target the 1W MA100 (red trend-line) at 1.8300 (which will also by a symmetrical to the first bearish leg -5.75% drop). If however we close a 1D candle above the 1D MA100 first, we will take the loss and open a buy that will target Resistance 1 at 1.997800). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1