AUDCAD Up and Then Down. Will NOT meet earning Expectations!

Long

Australian Dollar/Canadian Dollar (FX:AUDCAD)

Updated

FX:AUDCAD Australian Dollar/Canadian Dollar

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AUDCAD is currently moving up and displaying a nice uptrend on the daily chart. AUDCAD should continue to move up until sellers find a reason or motive to sell off. This reason to sell may just be occur after the AUD employment numbers are out. The expectations for AUD employment is currently at 20k; the previous employment number was 5.6. I could be wrong, but there is no possible way for employment to jump that high. In other words, I believe AUD will miss this expectations by a mile. When this number is NOT hit, I would speculate that the AUDCAD pair will sink. I do not believe a single news event will change the entire trend, but we may see price rejected followed by a short-term temporary bearish move. It is always a good idea to review the technicals and plan accordingly, but not without reviewing the news.

-Thanks for reviewing. Let me know your thoughts.
-StampsFX

Comment:

AUD did not miss earning expectations and the pair continue to rise.

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