Tag: AUDCAD analysis

AUDCAD Update

Just closed my trade in the AUDCAD, the market didnt move enough pips in my favor to feel comfortable with the trade. You never know what could happen during the US interest rate announcement.

Closed it at +30 pips

Trade Safe!

Raul Lopez

Forex Training

AUDCAD analysis

AUDCAD – Long signal

The AUDCAD is trading in a very strong bullish market condition, earlier this week It broke through an important LT resistance level triggering its condition:

Just got this signal (stop entry order)

Entry order: 1.0276 (moved it a few pips up tp make sure it breaks the previous high)
SL: 1.0239
TP: 1.0431

It has a RR ratio a little above 4:1.

If I see a close below the lowest low of the pattern that triggered my signal I will cancel the order.

Trade Safe!

Raul Lopez
Forex Training

AUDCAD analysis

AUDCAD – Short signal

Last week we had a long signal in the AUDCAD (it hit TP order), you may ask, why would I go short when just last week I had a long trade open? Well, the market condition has changed, last week we had a bullish market condition, now it already reached the LT resistance level and its being rejected from that level… so we are now in a bearish market condition. That’s one of the things I like about this system: it adapts to the market conditions:

These are the details of my pending order:

Entry: 1.0019
SL: 1.0052
TP: 0.9775

If I see a close above the pattern that triggered my order I will cancel it…

Trade Safe!

Raul Lopez
Forex Training

AUDCAD analysis

AUDCAD – Clear condition

There are only a few pairs that I see a clear market condition, its like you could almost see that traders and investors are pretty nervous, after yesterday’s periods of volatility… Anyway, one of the pairs that I see in a clear market condition is the AUDCAD:

It just broke through an important LT support level, and it is likely to continue its way down until it finds the next LT support level which is at 0.9272, around 400 pips away from where it is currently trading at.

Only short opportunities are in play in the AUDCAD.

Trade Safe!

Raul Lopez
Forex Training

AUDCAD analysis

AUDCAD – Long Signal

Yesterday I posted about the bullish market condition of the AUDCAD, it retraced back to the ST support level and formed a significant pattern with upward pressure:

Here are the details about my trade:

Entry: 0.9968
SL: 0.9927
TP: 1.0148

I’m risking 41 pips for the possibility to take 180 out of this trade, around 4.4:1, good deal ha?

Trade Safe!

Raul Lopez
Forex Training

AUDCAD analysis

AUDCAD – LT Range

The AUDCAD is trading in a long term range in between 0.9783 and 1.0178. Right now might be a good opportunity to try to find a long trade targeting the top of the long term range:

The AUCAD still is 140 pips away from the upper extreme of the range.

Trade Safe!

Raul Lopez
Forex Training

AUDCAD analysis

AUDCAD – Interesting bearish condition

AUDCAD is the currency pair that I like the most today; it clearly broke the LT support level triggering a bearish market condition:

What is most interesting about the AUDCAD is that the next LT support level is at 0.9272 (more than 450 pips away from where it is currently trading at). So we have plenty of room before the market gets there.

Trade Safe!

Raul Lopez
Forex Training

AUDCAD analysis