AUD/CAD Daily Price Forecast – 15th April 2025

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Trade Summary:

AUDCAD
Buy Stop @ 0.88240
TP @ 0.88880
SL @ 0.87491

AUDCAD Technical Analysis

Timeframe: H4 (4-Hour Chart)

The chart provided shows the AUDCAD currency pair on the H4 timeframe. Below is a detailed analysis based on the chart:

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Key Observations:

• Trend Analysis:

  • The pair has been in a downtrend, as indicated by the series of lower highs and lower lows.

  • Recently, there has been a recovery with bullish momentum, as seen in the formation of consecutive green candles.

• Moving Averages:

  • Yellow Line (Short-Term Moving Average): The price has crossed above the short-term moving average, signaling a potential bullish continuation.

  • Red Line (Long-Term Moving Average): The price is still below the long-term moving average, indicating that the overall trend remains bearish. However, the recent bullish momentum suggests a possible test of this resistance.

• Key Levels:

  • Buy Stop @ 0.88240: A buy stop order is placed above the current price, indicating a bullish breakout strategy.

  • Take Profit (TP) @ 0.88880: The target level is set near a previous resistance zone, where the price may face selling pressure.

  • Stop Loss (SL) @ 0.87491: The stop loss is placed below a recent support level, ensuring risk management in case of a reversal.

• Support and Resistance:

  • Support: The area around 0.87491 acts as a strong support level, as it has held during the recent bullish recovery.

  • Resistance: The 0.88880 level is a significant resistance zone, aligning with previous price action and the long-term moving average.

• Volume and Momentum:

  • The bullish candles show strong momentum, suggesting that buyers are currently in control.

  • However, the price is approaching a critical resistance zone, where momentum may slow down.

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Trading Plan:

• Entry:

  • A Buy Stop is placed at 0.88240, which will trigger if the price breaks above the current consolidation zone.

• Target:

  • The Take Profit (TP) is set at 0.88880, which aligns with a key resistance level and offers a favorable risk-to-reward ratio.

• Stop Loss:

  • The Stop Loss (SL) is set at 0.87491, below the recent support level, to protect against downside risk.

• Risk-to-Reward Ratio:

  • The distance between the entry (0.88240) and the stop loss (0.87491) is approximately 75 pips.

  • The distance between the entry (0.88240) and the take profit (0.88880) is approximately 64 pips.

  • The risk-to-reward ratio is slightly below 1:1, which may require adjustment based on individual risk tolerance.

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Potential Scenarios:

• Bullish Breakout:

  • If the price breaks above 0.88240, it is likely to test the 0.88880 resistance level. A sustained breakout above this level could signal a trend reversal.

• Rejection at Resistance:

  • If the price fails to break above 0.88240 or faces rejection at 0.88880, it may retrace back to the support level at 0.87491 or lower.

• Consolidation:

  • The price may consolidate between the support and resistance levels before making a decisive move.

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Conclusion:

The AUDCAD pair is showing signs of bullish recovery, but the overall trend remains bearish. The buy stop strategy at 0.88240 with a target of 0.88880 and a stop loss at 0.87491 provides a structured approach to trading this setup. Traders should monitor price action closely, especially near the resistance zone, and adjust their strategy based on market conditions.

Recommended Lot Size

Trading is all about statistics.

While we can experience winning streaks, we can also suffer from losing streaks.

As such, we should always size each trade to withstand losing streaks (if any).

It's widely recommended that you should not risk more than 2% of your capital for each trade.

We believe it's easier to control your lot size by limiting your lot sizing to 0.01 for every $500 in your account.

So if you have $5000, then risk no more than 0.10 lot size per trade.

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If you spot a mistake especially when it comes to the price, please use common sense and check the chart.

We wish you good luck and good profit for this trade idea.

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