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Audcadanalysis

AUD/CAD Analysis, Bear Claw is in Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The AUD/CAD has started what seems to be a Bearish movement back in September and it doesn't look it's going to stop any time soon. The pair is had a small push-up 2 days ago that let people think that the market is stabilizing but today's session started Bearish with a 0.5% drop already. Technical Analysis with possible Scenarios for the market : Scenario 1 : It seems like the market broke the first support line located at 0.91760 today, And the Bears are in control over the market right now and they will increase what power they have to drop the market even more. The first stop will be the support line at 0.91560 where they might have a small push back from the Bulls but most likely the victory will be on the Bears side, Which will lead to a further drop that will reach the 0.91000 zone Scenario 2 : The Bulls are trying to gain control over the market but so far with no luck, If they were able to gain some control it will probably push the price to the first resistance line located at 0.91970 where a big battle will happen and the Bears will go in to take control over the market and continue this Bearish movement, The first stop after this happens will be the second support at 0.91560 and then the 0.91000 zone Technical indicators show : 1) The market is below the 5 10 20 50 100 and 200 MA and EMA (Strong Bearish Sign) 2) The ADX is at 16.11 showing that the market is not trending much right now and that it's having a Negative crossover between DI+ and DI- 3) The RSI is at 39.16 Showing Weakness in the market, with no divergence found between the indicator and the market Daily Support & Resistance points : support Resistance 1) 0.9176 1) 0.9197 2) 0.9166 2) 0.9206 3) 0.9156 3) 0.9217 Weekly Support & Resistance points : support Resistance 1) 0.9139 1) 0.9218 2) 0.9100 2) 0.9258 3) 0.9060 3) 0.9297 Fundamental point of view : The Australian Current Account Balance for the fourth quarter was reported at A$14.5B. Economists predicted a figure of A$13.1B. Forex traders can compare this to the Australian Current Account Balance for the third quarter, reported at A$10.0B. Australian Net Exports of GDP for the fourth quarter decreased by 0.1% quarterly. Economists predicted a decrease of 0.3% quarterly. Forex traders can compare this to Australian Net Exports of GDP for the third quarter, which decreased by 1.9% quarterly. The Canadian GDP for December is predicted to increase by 0.3% monthly and for the fourth quarter by 7.5% annualized. Forex traders can compare this to the Canadian GDP for November, which increased by 0.7% monthly, and to third-quarter GDP, which increased by 40.5% annualized. The forecast for the AUD/CAD remains bearish after price action failed to sustain its upward movement towards the psychological resistance level of 1.0000. According to Paxforex This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
Short
by GabiDahduh
1
AUDCAD Setup For Five-Wave AdvanceHi traders! It has been a while here! :) Hope you're all doing well. AUDCAD rally from August low unfolded as a five-wave impulse structure and it follow by a three-wave correction. The correction unfolded as a simple zigzag with an ending diagonal pattern in wave C. According to EW theory, once a 5-3 (impulse-corrective) wave cycle is complete, the price will resume in the direction of the impulse. In AUDCAD's case, wave C is expected to rally above wave A high in the weeks ahead. The breach of the green level will indicate that the correction is completed. What's your view on AUDCAD? Let me know in the comment. Thanks for reading!
Long
by Veejahbee
AUDCADIN AUDCAD we can see price is rejecting from its daily and 4H strong reistance zone and now price is forming rising wedge patterns in uptrend which is the sign of reversal one more confirmation is rsi bearish divergence but we need to confirm this after the breakout of rising wedge down side than we entr short position and out targets are wedge starting point which is 0.9284 and if this level break than we try to achieved TP2. NOW talk about stoploss which is very important so our SL is This red resistance zone 20 to 25 pips above this zone.
Short
by naumanfx_