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Short $AUDCAD based on fundamental analysis $AUD $CAD #forex

FX:AUDCAD   Australian Dollar/Canadian Dollar
364 1 0
Economies worldwide slowing down and don't meet their forecast or miss them. Why? There are different explanations. Today I do a quick analysis of AUDCAD             , AUDUSD             & USDCAD             and how I trade them.

As you may or may not know Australia (http://atlas.media.mit.edu/en/profile/country/aus/) and Brazil (http://atlas.media.mit.edu/en/profile/hs/2601/) together dominate the world's iron ore exports.
Iron ore is the basic source for iron and steel industries. It is essential for the production of steel.
Prices for Commodities like Iron Ore, Steel, Cobalt, Oil             (http://www.tradingeconomics.com/commodities) and so on decreased dramatically in the last months. That's why e.g. AUDUSD             goes downwards and USDCAD             upwards. Canada's currency is dependent on their oil             production and the oil             price goes south.

So my plan for AUDCAD             is to wait for a pullback to 0.96-0.965 area.
In that area I placed an short position.
Today first time I look at this. It looks good and I will be pleased to use these analysis in the hope it will benefit me. Thank you ...
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