AUDCAD Lower
I like trying an AUDCAD short here.
nice potential head and shoulders forming here.
overall a proxy to AUDUSD as AUDUSD is more volatile than USDCAD. I expect AUDUSD to move lower on the back of last weeks hawkish fed sticking to no rate cuts in 2023 and maintaining course. I think this along with the overall narrratives of global growth worries, global tightening of financial conditions and worries about china growth should mean AUDCAD moves lower.
Correlations are suggesting lower as well, copper is lower so far this week as well as other commodities, risk sentiment is also lower.
not trading/investment advise, feedback welcome!
nice potential head and shoulders forming here.
overall a proxy to AUDUSD as AUDUSD is more volatile than USDCAD. I expect AUDUSD to move lower on the back of last weeks hawkish fed sticking to no rate cuts in 2023 and maintaining course. I think this along with the overall narrratives of global growth worries, global tightening of financial conditions and worries about china growth should mean AUDCAD moves lower.
Correlations are suggesting lower as well, copper is lower so far this week as well as other commodities, risk sentiment is also lower.
not trading/investment advise, feedback welcome!
Note
selling another at 0.90220 with a stop at 0.91495Note
taking both out for 1.12 and 0.77 win
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.