Analysis:
Price last week managed to put in a new higher high showing us that we're in an upwards trend meaning that we only want to be going long on this pair. At this level we saw that price held as support if we look left so we expect that it will hold again. Now for this particular setup we don't have any fib levels which we usual look for but we do instead...
I dont trade AUDCAD however this is a beautiful structure. Be prepared for the next cycle heading long, my advice is to wait for the next impulse & pullback.
4562 free pips for the trade of the year. The market has has completed the weekly correction structure and is now ready for downside. fundamentally we are bearish for both currencies but expecting CAD to be weaker since JPY is as it lows already
Hey guys,
Technically, I expect the NZD to chart its way up. Keeping it simple, momentum indicators show that prices are overextended to the downside and after a 10% gain against the Kiwi, CAD should cede some ground. In the weekly chart we can see that price action bullish divergence relative to stochastics. With higher highs relative to lower BB and a buy signal...
Hey guys,
I'm long the USD. I don't think governor Poloz will hike rates anytime time year. Maybe next year if things get hot. Economic indicators are weak. Earlier, Retail sales and CPI under performed and disappointed investors. Furthermore, BoC was said to have angered PM Trudeau when they hiked rate in two quick succession claiming they were offsetting 2015...
CAD is bound to lose some of its previous gains in the coming trading days. Governor Poloz and BoC are wary of CAD strength while RBNZ retracted their previous bear tone. Technical set up points to some positive swaps and appreciating NZD going forward.
Trade as follows:
Buy: 0.90
Stop Loss: Below 0.89
Take Profit: 0.94
More details here: forex.today
