Get started

Aud-cad

AUDCAD | Strong Support ZonePlease support this idea with LIKE if you find it useful. Initiate Long. Entry - 0.88890 TP1 - 0.89310 TP2 - 0.89711 TP3 - 0.90112 SL - 0.88763 Reason: Previously strong support zone retraced the price to Upward inside the Channel. We can initiate a Long position after price manages to close above the support zone. Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable. Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial Advise.
Long
by Anpu
4
BoC Cuts & RBA Hold - AUDCAD Double Whammy!Highlights overnight going to AUD with overshoots in the U-rate as expected. This number is going to trigger the RBA surprise hold that we have been tracking in this diagram: Large hands spotted on the AUD bid last ear and will continue to do so as a lot more unwinding of positions needs to take place from those betting on FURTHER rate cuts. Tracking 0.692x in AUDUSD as a sensible target from the initial knee-jerk reaction. The strategy for the flows from the AUD side in the chart have been dissected here in this diagram: On the CAD side , Poloz caught me by surprise with a very dovish BoC. This was particularly surprising considering his pokerface at the fireside chat only two weeks ago! Focus now shifts onto whether this will be a “one off” cut…in my books the move in USDCAD should be contained by the 1.32 handle - the data (although below par) is not weak enough to justify a full blown cutting cycle. On the positioning side , long and medium term flows are still betting heavily long CAD so expect 1.32xx to provide a good opportunity to re-engage with a swing back towards 1.28xx later in the year as those longs from the recent rally begin to unwind. Good luck all those in AUDCAD and holding for the long-term, this is going to the highs like a knife through butter. As usual, thanks for all the support with likes, comments, charts and etc !!
Long
by ridethepig
2
Strong Doji on Weekly Can Possibly Signal The Bull MoveAUDCAD looking like a buffet with that super-strong doji on the weekly. The strong bearish move was unphased last week and barely made a juke at all. It did a rejection at the daily and it looks to be forming a pullback on the 4hr. The weekly shows a large rejection like the downward move has come to a screeching halt. But one way to know for sure is to see how the market plays out. Trade well this week. This may be the one I keep an eye on this week. BULL TPS: • 0.90314 • 0.90955 • 0.91256 BEAR TPS • 0.89873 • 0.89467 • 0.89025
Long
by NikaJourney
Trendline TradeWe have new trendline bounce which means we can continue back up to the monthly SR level at 0.91362 to see if we can pass it. The other possibility is this is just a pullback move for the short and we will continue further south to the 0.89873 zone after a break and retest of the trendline. BULL TPS: • 0.90697 • 0.90955 • 0.91256 New Tps will be posted when it breaks and retests SR zone. BEAR TPS: • 0.89956 • 0.89801 • 0.89477 New Tps will be posted when it breaks and restest area of 0.89372
by NikaJourney