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RE : AUD CAD - Why i am looking for Sells?Weekly Perspective From the Monthly timeframe, Price has given us a Monthly W-Pattern and is very close to the Supply Zone on the weekly timeframe that broke structure on the left to the downside. While Price is on the way to the weekly supply zone , We are looking at getting into Sell positions as soon as our Entry requirements are met inside the Weekly Supply Zone and hold the position to the monthly Neckline Follow for more Updates
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by CharlesUgo-CordFx
AUD CAD - Why i am looking for Sells?#AUDCAD Analysis for the month from 6th March, 2022 From the Monthly timeframe, Price has given us a Monthly W-Pattern and is very close to the Supply Zone on the weekly timeframe that broke structure on the left to the downside. While Price is on the way to the weekly supply zone, We are looking at getting into Sell positions as soon as our Entry requirements are met inside the Weekly Supply Zone and hold the position to the monthly Neckline - Follow for more updates #forex #fxtrader #Cordfx
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by CharlesUgo-CordFx
AUDCAD SHORTS 📉📉📉📈 Expecting bullish price action on EURJPY as price takes out sell stop liquidity where a lot of retail stops where, also price takes out liquidith below the psychological area 128.000 and closed above with a high bullish momentum on H4, i see a retracement on the JPY INDEX meaning JPY should go down and EJ would go up. RSI/Stochastich Indicator are below 20 area meaning a reversal should occur because price is oversold from a mathematical standpoint. What do you think ?
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by AnonimFXRO
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AUDCAD - Our Forex Trade TodayCAD could be on the up rise for 2 main reasons: 1. Oil prices are sky-rocketing and the Canadian dollar is co-rellated to Oil. Oil up, CAD also Up 2. Rate Hike is inbound. The Bank of Canada’s First Rate Hike Since 2018 Expected This Week. The Bank of Canada is widely expected to increase its overnight target rate on Wednesday morning. Despite the market uncertainty unleashed by the current geopolitical crisis in Ukraine, the Bank’s hands appear to be tied given the headline inflation in January soared to a 30-year high of 5.1%. The target rate, upon which prime rate and variable-rate mortgages are priced, has been at 0.25% since March 2020, when the Bank cut rates at an emergency meeting at the start of the pandemic. Here’s a look at what some economists and analysts are saying in the lead-up to one of the most highly anticipated Bank of Canada meetings in years. So, we are Long on Canadian dollar for valid, Fundamental Reasons but why AUD on the other side of the pair and not EUR(that was our second option) on Turkish Lira or Russian ruble for example? The answer is in the chart. Price is offering us a nice technical entry level and we are taking it. One Love, the FXPROFESSOR
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by FX_Professor
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AUDCAD | Perspective for the new weekThe scope of a very strong bearish momentum on the daily time frame and a reversal set-up (double top) within the major supply zone at C$0.92400 shares a confluence with the bearish trendline to signal a selling opportunity for us in the coming week(s). Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. Despite a long term bearish momentum identified on the higher time frame, the last 30 days witnessed a consistent rise in the value of the Aussie over the Canadian dollar but the momentum appears to be thinning out and this can be identified on the chart as a double top structure. ii. Attempts made by buyers to break above C$0.924 was met with strong resistance during last week's trading session to insinuate that the bullish trendline may no longer be strong enough to hold price action above it. iii. It is worthy to note here that, the reversal set-up (double to pattern) awaits confirmation at the breakdown of key level @ C$0.91600 to incite the risk of a decline in price value in the coming week(s). iv. In this regard, I shall be waiting to take advantage of selling the Aussie anywhere below the key level @ C$0.916000... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3 Potential Duration: 3 to 8days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
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by darcsherry