AUDCAD
From the technical view:
1. From the daily point of view, the price completed the HNS pattern, now we can expect a further downside since this pair is moving to the upside aggressively and without any proper retracement.
From the fundamentals view:
1. Big players are bullish bias on AUD and bearish bias on CAD.
2. In the new report, more long positions added on AUD and more long positions closed on CAD. Another 3k long added on AUD and 12k long were closed on CAD. Strong AUD and weak CAD, AUDCAD should continue to move to the upside.
3. But keep in mind, they always buy low sell high, the coming push to the downside is just for them generate liquidity in order buy at the lower price, as we want to see the deeper retracement on the weekly perspective. Always remember, market always move in waves instead of the straight.
How to approach AUDCAD?
1. Overall the market environment is showing a bearish market on the 4h timeframe, but I can't share the rules to identify the environment.
2. We also have the previous support turn resistance pattern at the moment, let take a sell limit order:
Sell limit at 0.95800
TP: 0.94800
SL: 0.96117
RR: 1:3.15
3. Make sure you follow risk and money management, always 1% risk on your account.
If you have any questions on it, please comment down below and let me know your questions.
1. From the daily point of view, the price completed the HNS pattern, now we can expect a further downside since this pair is moving to the upside aggressively and without any proper retracement.
From the fundamentals view:
1. Big players are bullish bias on AUD and bearish bias on CAD.
2. In the new report, more long positions added on AUD and more long positions closed on CAD. Another 3k long added on AUD and 12k long were closed on CAD. Strong AUD and weak CAD, AUDCAD should continue to move to the upside.
3. But keep in mind, they always buy low sell high, the coming push to the downside is just for them generate liquidity in order buy at the lower price, as we want to see the deeper retracement on the weekly perspective. Always remember, market always move in waves instead of the straight.
How to approach AUDCAD?
1. Overall the market environment is showing a bearish market on the 4h timeframe, but I can't share the rules to identify the environment.
2. We also have the previous support turn resistance pattern at the moment, let take a sell limit order:
Sell limit at 0.95800
TP: 0.94800
SL: 0.96117
RR: 1:3.15
3. Make sure you follow risk and money management, always 1% risk on your account.
If you have any questions on it, please comment down below and let me know your questions.
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