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CANADIAN DOLLAR / AUSTRALIAN DOLLAR

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CADAUD trade ideas

AUDCAD: Bearish Reversal Coming?!The *AUDCAD* currency pair seems to have formed a *dynamic head and shoulders pattern* on the *4-hour (4H) time frame*. Let's break down the analysis: 1. *Pattern Description:* - The head and shoulders pattern consists of three main components: a left shoulder, a head, and a right shoulder. - In this case, it's described as "huge," which suggests that the pattern is particularly significant. 2. *Dynamic Neckline Break:* - The neckline of the pattern is a trendline connecting the lows of the left shoulder, head, and right shoulder. - A "dynamic" neckline means that it's not a horizontal line but rather follows the slope of the price action. - On Friday, the neckline was broken, indicating a potential reversal. 3. *Bearish Expectations:* - The successful close of a 4H candle below the dynamic neckline suggests bearish momentum. - Traders often look for confirmation by waiting for a retest of the broken neckline as resistance. - If the price continues to decline, the next significant support level is around *0.9000*. Remember that trading involves risks, and it's essential to consider other factors (such as overall market conditions, economic news, and risk management) before making any trading decisions. Always use proper risk management techniques and consider seeking professional advice or mentorship if you're new to trading. 😊📉💡 If you have any more questions or need further analysis, feel free to ask! 🌟
Short
by linofx1
2
DeGRAM | AUDCAD decline from the retracement levelAUDCAD is moving in a descending channel between the trend lines. The price reached the upper boundary of the channel and the resistance level coinciding with the 62% retracement level of the last bearish impulse, and afterwards the chart dropped below the dynamic resistance. The last pullback from the upper boundary of the channel was larger than the previous one, which also indicates that the sellers are getting stronger. We expect a decline. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
1
AUDCAD About to test the 1W MA200 after more than 1 year.The AUDCAD pair has been on a structured rise since the September 25 2023 Bottom, which technical is a Double Bottom formation for the long-term. The price is about to test the 1W MA200 (orange trend-line) for the first time since the week of March 20 2023 as well as the Lower Highs trend-line that started on the February 22 2021 High. Every time the pair approached the 1W MA200 to this distance, it broke above it, even just for the medium-term. We expect a similar development, which would be conveniently a Lower Highs test. Our Target is 0.92250. ------------------------------------------------------------------------------- ** 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
AUDCAD Approaching 0.9120 On Improving Market SentimentAUDCAD Approaching 0.9120 On Improving Market Sentiment Australia’s Retail Sales rose 0.1% MoM in April vs. 0.2% expected. It was a slight decrease considering the expectations for the month of April but if we take into consideration the previous month's retail sales improved to 0.1% in April vs -0.4% in March This is supporting AUD strength today and we can probably see AUDCAD testing the top of the structure soon located near 0.9120 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
6
Lingrid | AUDCAD in the CONSOLIDATION zoneThe price perfectly fulfills my last idea. It took off and hit the TP. The daily timeframe is showing a bullish trend, with the market consistently updating higher highs and higher lows. FX:AUDCAD has been consolidating within a narrow range of 0.91000 to 0.90500. It recently broke and closed above the significant level of 0.9000. Given this momentum, I anticipate the market will continue to consolidate within this range, with the potential for a bounce off support and an upward move towards liquidity area above the equal highs. Considering the overall bullish trend, it's likely that the price will rebound from the support level and downward trendline. My target is the resistance at 0.90960 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
1