AUD/CAD Trade Ideas
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Trade idea BUY 0.9000; TP 0.9050; SL 0.8980 AUD/CAD is trying to hold at some important long-term levels (0.8970 is the 50% Fibo retracement of the 2008-2012 advance). A bullish weekly candlestick with a long lower wick shows that bulls are willing to buy below it. On the D1, the pair closed above t...
Trade ideas SELL 0.9060; TP 0.9000; SL 0.9080 BUY 0.8980; TP 0.9200; SL 0.8950 If we look at the weekly chart of AUD/CAD, it looks like the pair is forming a bullish “butterfly” harmonic pattern. In line with this pattern, it can move down to 0.8975 (50% Fibonacci retracement of the 2008-2012 advanc...
Trade ideas SELL 0.9155; TP 0.9130; SL 0.9165 BUY 0.9220; TP 0.9250; SL 0.9205 AUD/CAD is consolidating in the narrow range between 0.92 and 0.9160 for the fifth day. On the one hand, there’s bullish divergence on D1 and an advance above 0.92 will open the way up to 0.9215 and 0.9250 (50% Fibo of th...
Trade idea BUY 0.9365; TP 0.9408; SL 0.9350 It looks like AUD/CAD formed an “Inverted Head and Shoulders” pattern on D1. The candlestick on W1 is a bullish “hammer”. To place a trade, we plotted Fibonacci retracements from April-May decline. An advance above 0.9360 will open the way up to 0.94. Noti...
Trade idea SELL 0.9475; TP1 0.9455; TP2 0.9415; SL 0.9490 AUD/CAD met resistance at the line connecting December and March highs. It failed to close above 10-day MA (0.9515) on Friday and is now testing 200-day MA (0.9497). We see that the path of the least resistance for the pair is to the downside...
Trade ideas SELL at 0.9580; TP 0.9520; SL 0.9600 BUY at 0.9620; TP 0.9660; SL 0.9605 With Canadian economic releases later today at 15:30 MT time, the Canadian dollar is getting ready for the increase in volatility. There’s an interesting technical setup in AUD/CAD. The picture on D1 looks like a “H...
The quarter begins with the next episode of the sale of risky assets. The SP500 dropped 2.2% on Monday. plunged by the technology sector. The Nasdaq index at the same time erased the whole of this year's increase. From the intraday peak (65.40) the WTI barrel rate fell to over 2.5 USD. In such an en...