Mid-Term Forecast: Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.9597). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDCAD is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA...
Hi, Thank you for clicking on my scenario. In this scenario, I see the formation of a channel pattern. The red line above is the resistance that keeps the price on hold to go up sharper, and the green line below is what keeps the amount going up and doesn't go bearish. Still, now the price has broken the green range meaning the trend from AUDCAD to Bearish and...
In this scenario, I see that AUDCAD will reverse the direction of the trend in the trendline which is quite strong and can continue to be bullish in this scenario of the acquisition ratio up to 1:3 and this is good enough for trading positions although only touching the target 1 ratio in getting is 1:1 and this is not too bad, in the scenario, I do not use entry 1...
AUDCAD buy FOR UPCOMING SESSIONS
AUDCAD can be good short , with small stoploss
Closing above .......mid line may push stock to upper resistance where we can short for down target and rejction below ...... mid line can push stock on down support where we can make buy position , what is your view
Confirmations that we have: 1. Rising wedge break/Retest 2.RSI Divergence 1h/4h 3. 21/8 crossover 4. double top break/retest 5. Hit Fib 50-61%
The counter has crossed two critical levels. One- the major support level of 0.89550 and the other is the critical resistance level of 0.89960. Now the broken levels can cushion the price action and push the price to higher levels.
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (0.9020). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDCAD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support....
Risk Reward Ratio is Fine. Strong Buying Breakout . We See huge buying in this Session. So Strongly its a BUY .
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (0.9021). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDCAD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support....
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (0.8987). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDCAD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support....
AUDCAD has formed a Broadening Rising Wedge pattern on a daily basis. At the moment, the price are just above the lower trendline. The prices are expected to rise with the pair reaching 0.90251 initially and then 0.90675. On the other hand, first support is at 0.89212 and then at 0.88915.