AUDCAD, A selling opportunity after a price retracement?
I am looking to sell AUD weakness on the back of poor economic data against possible CAD strength. There may be a retracement back to a 0.618 Fibonacci level (on my chart) this afternoon on the Canadian interest rate announcement at 13:45 GMT. I intent to sell at 0.9125 SL at 0.9175 and TP at 0.9033.
Long term Canada has a better economic outlook than Australia going forward with it riding on the back of the US economy doing better than China (China is a major trading partner of Australia).
This is my view at the moment and could change after the BoC announcement or anything else for that matter. I see a similar selling opportunity with AUDJPY that I may post.
Long term Canada has a better economic outlook than Australia going forward with it riding on the back of the US economy doing better than China (China is a major trading partner of Australia).
This is my view at the moment and could change after the BoC announcement or anything else for that matter. I see a similar selling opportunity with AUDJPY that I may post.
ملاحظة
There was a reaction, to the upside, after the cut in Canadian interest rates (which was expected) but my entry price was not filled. I will scratch the trade for now and review after the BoC press conference which is due to start at 14:30 GMT.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.