AUDCAD HAS BEEN TRAVELLING IN A VERY LARGE ASCENDING CHANNEL RECENTLY, IT HAS JUST RECENTLY BROKE OUT BELOW IT, WE ARE EXPECTING PRICE TO COME BACK UP TO RETEST THE CHANNEL AND THEN DROP TO THE -0.27 EXTENSION, SIMILAR TO THE OTHER AUD PAIRS....
(THE RETEST MAY NOT BE VISIBLE ON THE DAILY CHART)
AUDCAD Hits the monthly support line. wait for the confirmation before going long. but it can go either way if it bounces back it will go up or it may break that support line as well and go to the downside.
AUDCAD Long the structure pull back
Broke Neckline and formed a cup and handle.
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight into my trading techniques,
you should do your own due diligence and not take this information as a trade signal.
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Price has formed a new downtrend and broke 0.9056 (support and resistance). Go short when it retest 0.9056 / 0.9080 area.
Target 1: 0.9850 (resistance level on several times since October 1998)
Target 2: 0.9776 (opening 2017 & uptrend area since May 2016)
*Price is also inside down channel in daily chart.
Currently retracing from 1.07 on 18/03/13
This pair has touched the 23.6 retrace twice since 14/04/2014.
Both times it has failed to break.
A clear rejection sign at this point (hopefully around the start of April), will be an excellent short opportunity till at least 1.0125.
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...
HIGHER HIGHS AND HIGHER LOWS FORMING A RISING WEDGE !
PRINCE JUMPED BACK AFTER HITTING THE RESITANCE ZONE AND NOW IAM WAITING TO BREAK THE TREND LINE TO PUT A SELL ODER TP1@0.99700 TP2@0.98000 AND LONG TERM TP3@0.96000
Overall, the pair had formed a symmetrical triangle and is currently trading within the triangle's range. Price bullishly broke the ichimoku cloud which suggests bullish momentum in the works. Around 0.98605 price might find some resistance based on the triangle's diagonal resistance, and then maintain some bearish power (pullback) up until around 0.96663. The...
If the price pullbacks to .955999 or.95887 level, I think it is a very good possibility to buy this pair. I expect a 250 pips profit in this trade. Stop loss can be placed in between 61.8% or 78.6% fib levels.
