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CANADIAN DOLLAR / AUSTRALIAN DOLLAR

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CADAUD trade ideas

BEARISH signal with AUDCAD As of November 7, 2024, the AUD/CAD currency pair is exhibiting several bearish indicators: Technical Indicators: 1. Moving Averages: The pair has experienced bearish crossovers with its 20-period and 50-period moving averages on the 1-hour timeframe, suggesting downward momentum. INVESTING.COM MACD: A bearish divergence is present on the 2-hour and 4-hour timeframes, indicating potential downward movement. INVESTING.COM 2. Resistance Levels: The price has encountered resistance near 0.9200, which aligns with the 38.2% Fibonacci retracement, reinforcing the bearish outlook. INVESTING 3. Market Sentiment: Analyst opinions are mixed, with some short-term indicators suggesting a sell, while medium to long-term indicators lean towards a buy. FX LEADERS
Short
by tsogerdene
1
AUDCAD LongThe Relative Strength Index (RSI) is showing bullish divergence, which indicates that while price has been making lower lows, the RSI is making higher lows. This signals a potential reversal to the upside as selling momentum weakens. AUDCAD has broken above a significant downward trendline, suggesting a shift in momentum from bearish to bullish. This is often a strong signal of a potential trend reversal. After breaking a trendline, price often retests the breakout level, giving traders an opportunity to enter the trade at a better price. Buying at this retest level allows for a more favorable entry with reduced risk
Long
by SohailChaudhary
AUSSIE STRENGTH OVER THE CANADIANS?Commodity Prices: Both Australia and Canada are major exporters of commodities, particularly metals and energy. If there has been a rise in commodity prices (such as iron ore, oil, or copper), it can benefit the Australian Dollar (AUD) if these prices are moving in Australia's favor. For example, if oil prices (which directly affect the Canadian economy) have dropped, it could hurt the CAD, making the AUD relatively stronger. Economic Data: Positive economic data from Australia (like strong GDP growth, employment figures, or retail sales) can boost the AUD. Conversely, weaker-than-expected economic data from Canada (such as lower-than-forecasted GDP growth, inflation figures, or trade balances) could make the CAD weaker and lead to a stronger AUD/CAD.
Long
by Marshall_Wick
AUDCAD Is Going Up! Buy! Here is our detailed technical review for AUDCAD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 0.919. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.937 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
AUDCAD Long PositionHigher Highs (HH) & Higher Lows (HL): The pattern of higher highs and higher lows is an indication of an uptrend, showing that the buying momentum is strong. Trendline Break and Retest: The break above a key trendline signals a shift in market sentiment toward the upside. A retest of this trendline provides an opportunity to confirm the trend change as previous resistance becomes new support. Buy Stop Above Recent Higher High (HH): Placing a buy stop order above the most recent higher high allows you to enter the trade only if bullish momentum continues, reducing the risk of entering on a false breakout. Entry: Place a buy stop order just above the recent higher high (HH). This allows you to enter the trade if the price continues moving upward, confirming the bullish momentum. Stop-Loss: Place a stop-loss order below the most recent higher low (HL) or below the retested trendline. This helps to protect against a potential reversal and limits risk.
Long
by SohailChaudhary
1
AUD/CAD Day Trading Analysis With Volume ProfileOn AUD/CAD , it's nice to see a strong buying reaction at the price of 0.91130. There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again. Fair Volume GAP + Uptrend and high volume cluster are the main reasons for my decision to go long on this trade. Happy trading Dale
by Trader_Dale
AUDCAD SHORTMonthly Overall sentiment Bullish, I'm expecting price to continue lows having come of a tweezer top candle formation last month with price failing to close above this resistance level at 0.9375 for 2 years now with almost identical PA coming of those very highs. we have EMA support which if breached will be further confluence for big move to the downside. Weekly Overall sentiment Bullish, although looking at PA in the bigger picture it seems bullish with price closing below my AOI and dynamic ema resistance I feel there is a chance we can get a ema crossover if PA continues bearish for the early part of next week with aims to fill out previous weekly candles wick. On the other hand any significant change of character or bullish formations or closes above 0.9200 key level and just above previous weekly highs would be a signal of a reversal. Daily Overall bearish PA producing LH & LL, I like this daily chart as PA is ver simplified along with LL/LH we have price consistently rejecting AOI at 0.9170 this area is now acting as a resistance whereas it was previously support for the month of October, further confluence is 50 Ema dynamic resistance and weekly fib 0.618 level holding. 4hr + Entry Overall bearish with somewhat clean PA to the downside, outlooks similar to daily with ema, fib and PA confluences ill await 4hr bearish close somewhere below 0.9160 to execute shorts This was the analysis I mentioned in previous video where I stated I believe I may prefer this over FX:AUDCHF Shorts If you find this analysis helpful or even if you oppose it pls like or comment would be good to hear your feedback! ;) All Technical analysis is for journaling purposes.
Short
by MarlyForex1
AUD/CAD Analysis (4H Timeframe)🚀 **AUD/CAD Analysis (4H Timeframe): Targeting 0.93000!** 📈 AUD/CAD is currently at **0.91616** on the 4-hour chart, with a target set at **0.93000**. This pair is approaching key levels that could support a bullish move toward our target in the near term. 🔍 **Key Levels to Watch:** - **Current Price:** 0.91616 - **Key Resistance:** 0.92211 - **Key Support:** 0.91070, 0.90378 - **Target Price:** 0.93000 💡 **Our Strategy:** A strong move above 0.92211 may signal the beginning of a bullish push toward 0.93000. We’re monitoring these levels closely for confirmation. 👉 What are your thoughts on AUD/CAD’s next move? Let us know if you’re bullish too! #AUDCAD #ForexAnalysis #PricePrediction #KeyLevels #Pipnest
Long
by pipnest
7