Aussie is performing really badly and though CAD suffered on Friday due to the unemployment data, I think it will show strength due to the rising price of oil (which looks set to continue).
We're in a bearish downtrend that I can't see stopping soon, so looking for shorts around 0.882 - 0.885.
Trade Idea: Selling AUDCAD
Reasoning: Move higher stalling?
Entry Level: 0.8914
Take Profit Level: 0.8848
Stop Loss: 0.8930
Risk/Reward: 4.39:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all...
Trade Idea: Fading short term gains on AUDCAD
Reasoning: Rallied into downtrend resistance on the 60min chart
Entry Level: 0.9017
Take Profit Level: 0.8883
Stop Loss: 0.9052
Risk/Reward: 3.75:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk...
Hey traders, in today's trading session we are monitoring AUDCAD for a selling confirmation around 0.906 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe, Joe.
To summarise
DXY failed to make higher highs and then had one last attempt and rejected off key levels on the monthly time frames, creating a failed higher high. It looks like it is wanting to continue its long term channel structure.
But we have to be vigilant to the downside as it could still make a higher low and push higher and break out.
We will...
My previously prediction is that price would go from bearish to bullish within the green killzone area. As you can see, the previous resistance level was never broken to confirm that price would reverse. I am currently waiting for a higher high, higher close to form and for price to break the current resistance level before entering.
4HR - 3rd touch complete on the bullish flag, price broke out and retested top trend line. A larger long-term structure shows the possibility of a 90% rule completion @ 0.99900.
1HR - Price heading to retest top trendline, 0.95000.
Buy Limit set @ 0.95000.
TP1 - 0.97000.
TP2 - 0.98950.
TP3 - 0.99900.
Please like, follow, and share.
Happy Trading.
Last week price failed after accumulating above key support at 0.97627. A pull back and re-test of previous support turning resistance will provide a great place to look for Bearish set ups for Short down towards the the next key area of support and target of 0.96445
-- I was not supposed to trade this pair but I forgot to cancel my orders due to high risk --
At exactly 2017.05.29 04:56 UTC +03:00, my sell limit for this pair -- right at the daily 200sma -- was triggered. Failure to remember I had an ongoing sell stop as well, it was triggered at 09:22 (few minutes from now).
Considering that this pair has broken the daily...
