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AUDCAD CHANNEL UP

Metal_Mind Posted 24 Sep. as Analysis on AUD/CAD, Target: 0.9947, Date: 1st of November, 12:00 GMT  in #Technical analysis #Trading #AUD/CAD #Aussie #Pattern #Economy #Rate #Interest #Channel #Up #1 November
Charts: 4Hours ,Daily.
Indicators: Support & Resistance Levels, Relative Strength Index ,Trading Patterns
Current Level : 0.9678
AUD/CAD has been bearish starting April and until the 1st August ,when it reached a major support zone at (0.9174),from which it started a bullish trend in a channel up formation which can be seen from the first picture as beeing very well consolidated .Regarding the recent interest rate cut by RBA in their attempt to stimulate economy and keep the Aussie low…
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3 Comments
Daytrader21 avatar
Daytrader21 30 Sep.

I don't trade this pair but nice analysis

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Metal_Mind 20 Oct.

UPDATE 1 : My wiew regarding interest rate cut by RBA seems to have proven right. The auusie has strenghten in channel up and did this a little more than i predicted. It has beat my prediction by now with over 13 pips up from target. The current level is 0.9960. In case of a range or pullback the prediction may be very close for 1 Novemeber. Otherwise it's a very good prediction.

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Metal_Mind 1 Nov.

UPDATE 2: EXCELENT PREDICTION. ON 31 October, yesterday , it has reached target.Now current level is 0.9896 at 51 pips below the target. Now the trend is trying to move up so it may recover a little until settelemt. VERY GOOD PREDICTION .

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USD/CAD CHANNEL UP CONTINUATION

Metal_Mind Posted 19 Aug. as Analysis on USD/CAD, Target: 1.0543, Date: 1st of October, 12:00 GMT  in #Technical analysis #Trading #Chart #USD/CAD #Usdcad #Channel #Up #Montly Daily
USD/CAD has started a channel up since the begining of September last year which can be very clearly seen in the images bellow and continued this up momentum with slight pullback's on major support resistence zones and also on major fibonacci retracement zones. The momentum is strong and i predict a continuation of this up channel, from curent level of 1.0335 , around fibonaci 50% retracement zone where we can see that it had some difficulty around this zone and the 38% retracement zone that it …
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alincik avatar
alincik 15 Sep.

good analysis, good luck

ilonalt avatar
ilonalt 16 Sep.

i agree with you, i think USD will go up, good luck in predictions

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Metal_Mind 19 Sep.

Update 2: I predicted very well the directions and trend movement but Fed's decision sure make a serios move in this pair, weakaning the dollar to a 1.0180 low . It seem to encounter a support zone in that area from which started a retracement. The pair is preety unpredictable right now but what can i say is that my initial target is very far from been reached.

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Metal_Mind 26 Sep.

Update 3: My prediction is still 241 pips far from beeing reached. It sure is right now in the right direction. The trend is bullish and the current level is 1.0316.

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Metal_Mind 1 Oct.

Update 4 ; This prediction long way from home. It has the exact trend movment as i anticipated but at a much faster rate. Is at least 200 pips diference between current price and target , so no accuracy here.

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