#WaveAnalysis
#AUDCAD broke resistance level 0.9615
• Likely to rise to 0.9665
https://fxpro.news/market-snapshots/audcad-wave-analysis-11-december-2020-20201211/
#AUDCAD broke resistance level 0.9615
• Likely to rise to 0.9665
https://fxpro.news/market-snapshots/audcad-wave-analysis-11-december-2020-20201211/
#WaveAnalysis
#AUDCAD reversed from support level 0.9265
• Likely to rise to resistance level 0.9400
AUDCAD recently reversed up from the powerful support level 0.9265 (which stopped the sharp downtrend in October) – strengthened by the lower daily Bollinger Band.
The upward reversal from the support level 0.9265 stopped the previous multi-impulse downward impulse sequence made out of the impulse waves (iii), 5 and (C).
AUDCAD can then be expected to rise further toward the next resistance level 0.9400 (top of the previous short-term correction (ii)).
#AUDCAD reversed from support level 0.9265
• Likely to rise to resistance level 0.9400
AUDCAD recently reversed up from the powerful support level 0.9265 (which stopped the sharp downtrend in October) – strengthened by the lower daily Bollinger Band.
The upward reversal from the support level 0.9265 stopped the previous multi-impulse downward impulse sequence made out of the impulse waves (iii), 5 and (C).
AUDCAD can then be expected to rise further toward the next resistance level 0.9400 (top of the previous short-term correction (ii)).
#AUDCAD reversed from resistance level 0.9350
• Likely to fall to support level 0.9265
AUDCAD currency pair recently reversed down from the resistance level 0.9350 (which has been reversing the pair from the middle June), standing near the upper daily Bollinger band.
The downward reversal from the resistance level 0.9350 is aligned with the clear multi-month downtrend that can be seen on the daily AUDCAD charts.
AUDCAD currency pair can be expected to fall further toward the next powerful support level 0.9265 (which has been reversing the pair from last October).
• Likely to fall to support level 0.9265
AUDCAD currency pair recently reversed down from the resistance level 0.9350 (which has been reversing the pair from the middle June), standing near the upper daily Bollinger band.
The downward reversal from the resistance level 0.9350 is aligned with the clear multi-month downtrend that can be seen on the daily AUDCAD charts.
AUDCAD currency pair can be expected to fall further toward the next powerful support level 0.9265 (which has been reversing the pair from last October).
#AUDCAD reversed from support zone
• Likely to rise to resistance level 0.9350
AUDCAD recently reversed up from the support zone lying between the lower daily Bollinger Band and the support trendline of the daily down channel from the start of May.
The upward reversal form this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing.
Given the strong Canadian dollar outflows – AUDCAD can be expected to rise further toward the next resistance level 0.9350.
• Likely to rise to resistance level 0.9350
AUDCAD recently reversed up from the support zone lying between the lower daily Bollinger Band and the support trendline of the daily down channel from the start of May.
The upward reversal form this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing.
Given the strong Canadian dollar outflows – AUDCAD can be expected to rise further toward the next resistance level 0.9350.
#AUDCAD reversed from resistance zone
• Likely to fall to support level 0.9250
AUDCAD currency pair recently reversed down from the resistance zone lying between the pivotal resistance level 0.93724 (which has been reversing the price from the start of June), upper daily Bollinger Band and the resistance trendline of the daily down channel from May.
The downward reversal from the resistance zone stopped the previous short-term ABC correction (iii).
Given the prevailing downtrend, AUDCAD can be expected to fall further toward the next support level 0.9250 (former strong support from June and July).
• Likely to fall to support level 0.9250
AUDCAD currency pair recently reversed down from the resistance zone lying between the pivotal resistance level 0.93724 (which has been reversing the price from the start of June), upper daily Bollinger Band and the resistance trendline of the daily down channel from May.
The downward reversal from the resistance zone stopped the previous short-term ABC correction (iii).
Given the prevailing downtrend, AUDCAD can be expected to fall further toward the next support level 0.9250 (former strong support from June and July).
#AUDCAD reversed from support zone
• Likely to rise to resistance level 0.9200
AUDCAD currency pair recently reversed up from the support zone set between the pivotal support level 0.9110 (previous monthly low from August) and the lower daily Bollinger Band.
The upward reversal from this support zone stopped the previous impulse waves 3 and (3).
Given the strength of the aforementioned support zone, AUDCAD currency pair can be expected to rise further toward the next resistance level 0.9200 (top of wave 2 from last month).
• Likely to rise to resistance level 0.9200
AUDCAD currency pair recently reversed up from the support zone set between the pivotal support level 0.9110 (previous monthly low from August) and the lower daily Bollinger Band.
The upward reversal from this support zone stopped the previous impulse waves 3 and (3).
Given the strength of the aforementioned support zone, AUDCAD currency pair can be expected to rise further toward the next resistance level 0.9200 (top of wave 2 from last month).
#WaveAnalysis
#AUDCAD reversed from support level 0.9130
• Likely to rise to resistance level 0.9235
AUDCAD currency pair recently reversed up from the key support level 0.9130 (which has been reversing the pair from August), intersecting with the lower daily Bollinger Band and the daily down channel from May.
The upward reversal from the support level 0.9130 will form the daily Bullish Engulfing – if the pair closed today near the current levels.
AUDCAD can be expected to rise further toward the next resistance level 0.9235 (which has been reversing the price from the start of November).
#AUDCAD reversed from support level 0.9130
• Likely to rise to resistance level 0.9235
AUDCAD currency pair recently reversed up from the key support level 0.9130 (which has been reversing the pair from August), intersecting with the lower daily Bollinger Band and the daily down channel from May.
The upward reversal from the support level 0.9130 will form the daily Bullish Engulfing – if the pair closed today near the current levels.
AUDCAD can be expected to rise further toward the next resistance level 0.9235 (which has been reversing the price from the start of November).
#WaveAnalysis
#AUDCAD reversed from round support level 0.9000
• Likely to rise to resistance level 0.9200
AUDCAD currency pair recently reversed up from the key round support level 0.9000 (former strong resistance from the start of August) – intersecting with the lower weekly Bollinger Band.
The upward reversal from the support level 0.9000 stopped the earlier downward impulse wave (1).
AUDCAD can be expected to rise further toward the next resistance level 0.9200 (which reversed the price in October).
#AUDCAD reversed from round support level 0.9000
• Likely to rise to resistance level 0.9200
AUDCAD currency pair recently reversed up from the key round support level 0.9000 (former strong resistance from the start of August) – intersecting with the lower weekly Bollinger Band.
The upward reversal from the support level 0.9000 stopped the earlier downward impulse wave (1).
AUDCAD can be expected to rise further toward the next resistance level 0.9200 (which reversed the price in October).
#WaveAnalysis
#AUDCAD reversed from key support level 0.8970
• Likely to rise to resistance level 0.9100
AUDCAD recently reversed up from the key support level 0.8970 (previous monthly low from December), intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 0.8970 created the daily Bullish Engulfing – which stopped the previous sharp downward impulse waves (iii) and 3.
AUDCAD can be expected to rise further toward the next resistance level 0.9100 (which stopped the previous corrective wave (ii)).
#AUDCAD reversed from key support level 0.8970
• Likely to rise to resistance level 0.9100
AUDCAD recently reversed up from the key support level 0.8970 (previous monthly low from December), intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 0.8970 created the daily Bullish Engulfing – which stopped the previous sharp downward impulse waves (iii) and 3.
AUDCAD can be expected to rise further toward the next resistance level 0.9100 (which stopped the previous corrective wave (ii)).
#WaveAnalysis
#AUDCAD reversed from key support level 0.8750
• Likely to rise to resistance level 0.8900
AUDCAD currency pair recently reversed up from the key support level 0.8750 (low of the previous minor impulse wave (i) from the end of last month), intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 0.8750 stopped the previous minor downward impulse wave (i) of wave 3 from June.
AUDCAD can be expected to rise further toward the next resistance level 0.8900 (former strong support from January and June).
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#AUDCAD reversed from key support level 0.8750
• Likely to rise to resistance level 0.8900
AUDCAD currency pair recently reversed up from the key support level 0.8750 (low of the previous minor impulse wave (i) from the end of last month), intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 0.8750 stopped the previous minor downward impulse wave (i) of wave 3 from June.
AUDCAD can be expected to rise further toward the next resistance level 0.8900 (former strong support from January and June).
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👍1
#WaveAnalysis
#AUDCAD broke the resistance level 0.8835
• Likely to rise to resistance level 0.8965
AUDCAD recently broke the resistance level 0.8835 (top of wave (a) from the end of October, former support from September).
The breakout of the resistance level 0.8835 was preceded by the breakout of the resistance trendline of the weekly down channel from April – which accelerated the active impulse wave (c).
AUDCAD can be expected to rise further toward the next resistance level 0.8965 (former double top from September and the forecast price for the completion of the active wave c).
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#AUDCAD broke the resistance level 0.8835
• Likely to rise to resistance level 0.8965
AUDCAD recently broke the resistance level 0.8835 (top of wave (a) from the end of October, former support from September).
The breakout of the resistance level 0.8835 was preceded by the breakout of the resistance trendline of the weekly down channel from April – which accelerated the active impulse wave (c).
AUDCAD can be expected to rise further toward the next resistance level 0.8965 (former double top from September and the forecast price for the completion of the active wave c).
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#WaveAnalysis
#AUDCAD reversed from support area
• Likely to rise to resistance level 0.9200
AUDCAD today reversed up from the support area located between the pivotal support level 0.9070 (which has been reversing the price from December), standing near the lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp impulse wave (1) from October.
The upward reversal from the support level 0.9070 is likely to form the daily Bullish Engulfing pattern today – the strong buy signal for this currency pair.
AUDCAD can then be expected to rise further toward the next resistance level 0.9200 (which stopped the earlier impulse wave 1).
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#AUDCAD reversed from support area
• Likely to rise to resistance level 0.9200
AUDCAD today reversed up from the support area located between the pivotal support level 0.9070 (which has been reversing the price from December), standing near the lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp impulse wave (1) from October.
The upward reversal from the support level 0.9070 is likely to form the daily Bullish Engulfing pattern today – the strong buy signal for this currency pair.
AUDCAD can then be expected to rise further toward the next resistance level 0.9200 (which stopped the earlier impulse wave 1).
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#WaveAnalysis
#AUDCAD reversed from resistance level 0.9100
• Likely to fall to support level 0.9015
AUDCAD earlier reversed down from the pivotal resistance level 0.9100 (which has been repeatedly reversing the price from the start of April).
The downward reversal from the resistance level 0.9100 is the 4th consecutive downward reversal from this price level – signalling its strength.
Given the strength of the resistance level 0.9100, AUDCAD can be expected to fall further toward the next support level 0.9015 (yesterday’s low).
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#AUDCAD reversed from resistance level 0.9100
• Likely to fall to support level 0.9015
AUDCAD earlier reversed down from the pivotal resistance level 0.9100 (which has been repeatedly reversing the price from the start of April).
The downward reversal from the resistance level 0.9100 is the 4th consecutive downward reversal from this price level – signalling its strength.
Given the strength of the resistance level 0.9100, AUDCAD can be expected to fall further toward the next support level 0.9015 (yesterday’s low).
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#WaveAnalysis
#AUDCAD reversed from support level 0.8945
• Likely to rise to resistance level 0.9010
AUDCAD recently reversed up from the key support level 0.8945 (which stopped the previous impulse wave (1) and 1), standing near the lower daily Bollinger Band.
The support level 0.8945 was further strengthened by the 61.8% Fibonacci correction of the previous sharp upward impulse from last October.
Given the strong AUD gains across the FX markets, AUDCAD can be expected to rise further toward the next resistance level 0.9010.
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#AUDCAD reversed from support level 0.8945
• Likely to rise to resistance level 0.9010
AUDCAD recently reversed up from the key support level 0.8945 (which stopped the previous impulse wave (1) and 1), standing near the lower daily Bollinger Band.
The support level 0.8945 was further strengthened by the 61.8% Fibonacci correction of the previous sharp upward impulse from last October.
Given the strong AUD gains across the FX markets, AUDCAD can be expected to rise further toward the next resistance level 0.9010.
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#WaveAnalysis
#AUDCAD broke key support level 0.8800
Likely to fall to support level 0.8700
AUDCAD under the bearish pressure after the price broke the key support level 0.8800 (which stopped the previous sharp downward impulse wave (1) at the end of May).
The breakout of the support level 0.8800 should accelerate the active intermediate impulse wave (3).
Given the clear multi-month downtrend, AUDCAD can be expected to fall further toward the next support level 0.8700.
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#AUDCAD broke key support level 0.8800
Likely to fall to support level 0.8700
AUDCAD under the bearish pressure after the price broke the key support level 0.8800 (which stopped the previous sharp downward impulse wave (1) at the end of May).
The breakout of the support level 0.8800 should accelerate the active intermediate impulse wave (3).
Given the clear multi-month downtrend, AUDCAD can be expected to fall further toward the next support level 0.8700.
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#WaveAnalysis
#AUDCAD rising inside minor correction 2
Likely to rise to resistance level 0.9000
AUDCAD currency pair continues to rise strongly inside the minor correction 2, which started earlier from the key support level 0.8800.
The pair formed the daily candlesticks reversal pattern Morning Star near the support level 0.8800 which testifies to the strength of this support level.
AUDCAD currency pair can be expected to rise further toward the next resistance level 0.9000 (target price for the completion of the active correction 2).
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#AUDCAD rising inside minor correction 2
Likely to rise to resistance level 0.9000
AUDCAD currency pair continues to rise strongly inside the minor correction 2, which started earlier from the key support level 0.8800.
The pair formed the daily candlesticks reversal pattern Morning Star near the support level 0.8800 which testifies to the strength of this support level.
AUDCAD currency pair can be expected to rise further toward the next resistance level 0.9000 (target price for the completion of the active correction 2).
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👍1
#WaveAnalysis
#AUDCAD reversed from support level 0.8630
Likely to rise to resistance level 0.8745
AUDCAD currency pair recently reversed up from the major long-term support level 0.8630 (former strong support from October and November), coinciding with the lower daily Bollinger Band.
The upward reversal from the support level 0.8630 created the daily Japanese candlesticks reversal pattern Hammer.
Given the strength of the support level 0.8630 and the oversold daily Stochastic, AUDCAD currency pair can be expected to rise further toward the next resistance level 0.8745.
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#AUDCAD reversed from support level 0.8630
Likely to rise to resistance level 0.8745
AUDCAD currency pair recently reversed up from the major long-term support level 0.8630 (former strong support from October and November), coinciding with the lower daily Bollinger Band.
The upward reversal from the support level 0.8630 created the daily Japanese candlesticks reversal pattern Hammer.
Given the strength of the support level 0.8630 and the oversold daily Stochastic, AUDCAD currency pair can be expected to rise further toward the next resistance level 0.8745.
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#WaveAnalysis
#AUDCAD reversed from key support level 0.8630
Likely to rise to resistance level 0.8700
AUDCAD recently reversed up from the key support level 0.8630 (which has been repeatedly reversing the pair from last November) intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 0.8630 follows the earlier upward reversal from the same support level – which formed the daily Bullish Engulfing.
Given the oversold daily Stochastic and the strength of the support level 0.8630, AUDCAD can be expected to rise toward the next resistance level 0.8700.
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#AUDCAD reversed from key support level 0.8630
Likely to rise to resistance level 0.8700
AUDCAD recently reversed up from the key support level 0.8630 (which has been repeatedly reversing the pair from last November) intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 0.8630 follows the earlier upward reversal from the same support level – which formed the daily Bullish Engulfing.
Given the oversold daily Stochastic and the strength of the support level 0.8630, AUDCAD can be expected to rise toward the next resistance level 0.8700.
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👍1
#WaveAnalysis
#AUDCAD reversed from resistance level 0.8725
Likely to fall to support level 0.8575
AUDCAD currency pair recently reversed down from the pivotal resistance level 0.8725 (which has been repeatedly reversing the pair from the start of September) intersecting with the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from August.
The downward reversal from the resistance level 0.8725 continues the active downward impulse waves 3 and (3).
Given the clear daily downtrend, AUDCAD can be expected to fall further toward the next support level 0.8575 (previous monthly low from September).
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#AUDCAD reversed from resistance level 0.8725
Likely to fall to support level 0.8575
AUDCAD currency pair recently reversed down from the pivotal resistance level 0.8725 (which has been repeatedly reversing the pair from the start of September) intersecting with the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from August.
The downward reversal from the resistance level 0.8725 continues the active downward impulse waves 3 and (3).
Given the clear daily downtrend, AUDCAD can be expected to fall further toward the next support level 0.8575 (previous monthly low from September).
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#WaveAnalysis
▫️#AUDCAD reversed from support zone;
▫️ Likely to rise to the resistance level 0.9150.
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▫️#AUDCAD reversed from support zone;
▫️ Likely to rise to the resistance level 0.9150.
📣Trade responsibly with fxpro.com
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Forex - AUDCAD Wave Analysis 12 September 2024 | Technical analysis
- AUDCAD reversed from support zone - Likely to rise to the resistance level 0.9150 AUDCAD recently reversed up from the support area betwe...