Get started

AUDCAD

AUDCAD - Bullish CAD On The Horizon?Analysis: Looking at price action we can see that price is in a downwards trend. We're seeing lower lows and lower highs being formed which confirms that we're in a downwards trend, so we're only looking for shorting opportunities. Price has made a deep pullback to the current lower high and we did put in a new lower low so this is looking like a great place to enter. At this level we also can see that it has been tested multiple times and we can see big rejections from this area showing that there is a lot of pressure at this level so it's more likely to hold and continue to the downside rather then it breaking and heading to the upside, especially when we add the fact that we're also in a downwards trend. We don't have any other added confluences for this trade, however the technicals are still valid for our strategy. Fundamentally the AUD is 3rd weakest major currency whereas the CAD is the 2nd weakest currency so this doesn't go in our favour but this isn't the full picture. Recently we saw a huge decrease in long positions on the CAD and the AUD, but we saw a small decrease in short positions on the AUD whereas we saw a huge decrease in short positions on the CAD. Basically meaning that more short positions were closed on the CAD then the AUD signifying that there might be an end coming to the bearishness for the CAD. With our speculation on oil prices rising which is heavily correlated to the CAD we can see some strong bullish momentum on the horizon for the CAD which is why fundamentally we prefer the CAD over the AUD. With all of the technicals and fundamentals combined together we get a bearish outlook on this pair. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Short
by jpeacockfx
10
AUDCADAUDCAD been moving up and down in an inverted triangle pattern, a big one. Currently, price is going down and it seems AUDCAD is halfway down. There are two weekly trendlines as well as a horizontal area around which orders are waiting. So, price will probably goes down to this area. Also, the upper side of this inverted triangle has worked like a magnet, although not a strong magnet, but probably pull AUDCAD upward once price bounce from the bottom area. Let's see what happens.
Short
by SaeedSalehinia
1
EURCAD I Watch for break of range and these levelsWelcome back! Let me know your thoughts in the comments! ** EURCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
6
EURAUD I Potential move higher with Employment Change ReportWelcome back! Let me know your thoughts in the comments! ** EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
2
Expansion PatternsAUDCAD has a unique setup that I'd not seen before. We have shark patterns from the Weekly chart to the 1-hourly chart. This is a clear sign of sideway increase volatility, a situation I DID NOT trade when I started trading 18years ago, not until I found the Shark Pattern trading strategy 12years ago. I'm more comfortable waiting for the Shark Pattern form up on the 1-hourly chart at 0.8902. Not only because it was the lowest timeframe, which means lesser initial risk on the trade and the completion of the Shark Pattern lands on the Key Support level on the 1-hourly chart.
Long
by RaynLim
AUDCAD SHORT TRADE BEFORE CAD NEWSOn AUDCAD, we have a bullish setup with the price, after yesterday's rally, stalling around the 0.891 area where we have a strong volume concentration. This is a potential reversal zone where the price could reverse course and reabsorb the liquidity left in the market. In fact, we can observe a significant cluster of trades at the 88.90 level. That level will be the target objective in case of a short trade. Please share your expectations. Happy trading to everyone. Nicola CEO of Forex48 Trading Academy
Short
by Forex48_TradingAcademy
GBPCAD I How to trade it following BOC Rate ReportWelcome back! Let me know your thoughts in the comments! ** GBPCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
1