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Audcadforecast

AUD/CAD Trade Opportunity There should be an opportunity here for a buy or sell depending on what happens with the price action. If price closes above the dark blue resistance line, I would expect price to go up to at least around the .97900 area. To take the safest trade, wait for a re-test of the resistance line (which would be support at a re-test). If price closes below the upward trendline, I would expect price to continue down to at least the .97000 area. To take the safest trade, wait for a re-test of the trend line. As always on my charts: Red Lines - Monthly Support & Resistance Orange Lines - Weekly Support & Resistance Yellow Lines - Daily Support & Resistance Dark Blue Lines - Support & Resistance Area I'm currently looking at (in this case 1 hr.)
by Jabest
AUDCAD @ 1h @ week of decisions (50th week`16)A week of decissions stays ahead this week (50th week`16) ... 1.03975 start of extended downside trendline (november`16) 1.00947 end of extended downside trendline (november`16) This could be an usefully long/short decission helper! 0.99394 1st high this month (december`16) 0.98427 1st low this month (december`16) 0.98439 1st test of this month low (december`16) An OutBreak to the Up/Down Side could be also an usefully long/short decission helper! 0.97291 temporarly summer low 2016 (july`16) 0.97537 temporarly summer low 2016 (august`16) Will both summer lows be usefully support lines? Or will they broken through? If AUDCAD will break down (<0.97291), then are only last year lows next support lines ? 0.91754 yearly low 2013 0.93979 yearly low 2014 0.91513 yearly low 2015 0.93266 yearly low 2016 Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) Best regards Aaron
by Devise2Day
AUD/CAD, DAY CHART, SHORT (11-DEC-2016)Note: Is is a TURN Setup or Reversal Trade The trend now turn to BEARISH There are 2 ways to short this pair 1. If the price break the support zone around 0.979x strongly, wait for pullback to the support zone and SHORT 2. If the price bounce back from support zone around 0.979x Wait it touch the 20-EMA and short when a bearish signal appeared :) Fundamentally, if Crude price continue the strength, CAD will be stronger and able to push this pair further down. On Thursday, need to pay attention on AUD employment data :) If will be a R/R ratio of 1:1 for TP1 and 1:2.5 for TP2 Trade with right risk management and psychology skill :)
Short
by YongLiang
Yes! You got it right about Audcad, Follow the chart for setupThe overall aspect of this structure looks like a megaphone. We could say, there is a horizontal bottom formation. The formation already touched two minor highs and two minor lows. The volume of the formation, which is almost a "U" shape supports the idea. 1) A premature pullback can happen to the level of 0.618 for a very short-term buy 2) If it breaks the horizontal trendline downwards, then wait for a pullback, flag or such short-term formation to continue selling. 3) I will update the chart day-by-day, if possible Follow the chart and never forget to click the like button. Trade with care and you are responsible for your trading. Thank you.
Short
by patterntrader