AUD/CAD is extending downside from 1-month highs of 0.9545 hit on Tuesday. Intraday bias for the pair is lower, pair finds immediate support at 0.9455 (trendline), then 0.9446 (10-DMA). Major resistance is seen at 0.9542 (trendline), bearish invalidation only on break above. Techs on 2H charts support downside. Break below 0.9455 could see test of 0.9385...
A bullish pinbar is forming on the 1 hour chart at a strong support level. If this candle keeps a proper pinbar formation and price breaks the high, the trade will be triggered. Entry: Pinbar high + 1 pip SL: Pinbar low - 1 pip 1st TP: ~.9495
On May 9, MacroView issued a short idea on AUDUSD and highlighted the strong correlations with copper and gold, which we would see the trifecta fall 2.93 percent, 4.90 percent and 6.68 percent respectively. We've seen all three etch out bottoms in early June, yet copper is retesting those lows on unexpected increases in inventories. The AUDUSD went big following...
Possible Bat Pattern Shorted at C level Target D level ( also ext. of 1.618 of AB ) SL above A level.
When you took last week's Harmonic patterns on the most agressive approach. You would've ended with some pretty big losses. If you found yourself in that position, you might want to have a look at this approach. This entry is the one that Scott Carney has created and uses, and is therefor considered as 'the' approach for the usage of Harmonic patterns. Still we...
FX:AUDCAD Safe Trades;
possible short opportunity, awaiting MACD and VI confirmation for entry.
Looks like AUDCAD is about to break of this ending diagonal in 4H chart. There is also MACD divergence confirming it.There may be a last move to the lows so be careful and wait for it to consolidate above the trendline before buying.I'm targetting 0.9900 area
A simple BULLISH BAT PATTERN forming on the AUDCAD LONG ENTRY @0.92608 TAKE PROFIT @1.01670 RR Ratio= 4.74 TARGET 2 @0.98566 RR Ratio= 3.15 TARGET 1 @0.96166 RR Ratio= 1.86 STOP LOSS @0.90661
Strong indication price could retest recent high ~0.723