POTENTIAL AUDCAD LONG POSITION FOLLOWED BY A SH0RT.
EXPECTING SOME RALLYING BEFORE A MAJOR BEARISH MOVE.
THERE IS AUD INTEREST RATE AND RETAIL SALES DATA COMING OUT NEXT WEEK.
CAD HAS PMI DATA RELEASING NEXT WEEK
NFP data is due to release tomorrow and as a result I am expecting the dollar to keep falling and for the eurodollar to reach the 1.254 monthly trend structure just before the data release(potential of 70pips).
Depending on the data and how the market reacts the eurodollar can either reverse or break through the supply zone and structure.
Let me know what you think.