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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.9380 to 0.9315). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.9380)
    • Support on 06/29/2015
    • Support on 08/24/2015
    • Resistance on 09/01/2015
    • Resistance on 09/10/2015
    • Support on 09/14/2015
    • Support on 09/22/2015
    • Resistance on 09/30/2015
    • Resistance on 10/01/2015
    • Support on 10/08/2015
    • Support on 10/14/2015
    • Support on 10/16/2015
    • Support on 10/21/2015
    • Resistance on 10/29/2015
    • Resistance on 10/30/2015
    • Resistance on 11/09/2015
    • Resistance on 11/10/2015
    • Resistance on 11/11/2015
    • Support on 05/12/2016
    • Support on 05/13/2016
    • Support on 05/16/2016
    • Support on 05/18/2016
    • Support on 06/10/2016
    • Support on 09/03/2018
    • Resistance on 09/13/2018
    • Resistance on 09/14/2018
    • Resistance on 09/18/2018
    • Resistance on 09/19/2018
    • Support on 09/20/2018
    • Support on 09/21/2018
    • Support on 09/25/2018
    • Support on 09/26/2018
    • Support on 01/03/2019
    • Support on 02/06/2019
    • Trough on 02/07/2019
    • Support on 02/07/2019
    • Support on 02/08/2019
    • Support on 02/11/2019
    • Support on 02/12/2019
    • Support on 02/13/2019
    • Support on 02/27/2019
    • Support on 03/14/2019
  • Ending of entry zone (0.9315)
    • Support on 09/24/2015
    • Support on 09/25/2015
    • Support on 09/28/2015
    • Support on 09/29/2015
    • Support on 10/01/2015
    • Support on 10/29/2015
    • Support on 10/30/2015
    • Support on 11/03/2015
    • Support on 11/10/2015
    • Support on 11/11/2015
    • Support on 05/26/2016
    • Support on 09/14/2018
    • Support on 09/17/2018
    • Support on 09/28/2018
    • Resistance on 10/15/2018
    • Resistance on 10/18/2018
    • Resistance on 10/22/2018
    • Resistance on 10/29/2018
    • Resistance on 10/30/2018
    • Resistance on 10/31/2018
    • Support on 01/03/2019
    • Support on 02/21/2019
    • Support on 02/28/2019
    • Support on 03/01/2019
DateApril 20, 2019 - 11:58
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.91050, resumption of uptrend is expected.
  • We make sure when the resistance at 0.97750 breaks.
  • If the support at 0.91050 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
  • A trough is formed in daily chart at 0.9415 on 04/03/2019, so more gains to resistance(s) 0.9665 and maximum to Major Resistance (0.9775) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 60.

Take Profits:

  1. 0.9490
  2. 0.9565
  3. 0.9665
  4. 0.9775
  5. 0.9915
  6. 1.0090
  7. 1.0350
Click on the level to view price action history.
Symbol Released Current Forecast
Australian Dollar / Canadian Dollar (AUDCAD) free Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 14 Apr 2024
Australian Dollar / Canadian Dollar (AUDCAD) Sun, 7 Apr 2024
History
Daily-Trading-Opportunities on AUDCAD.