Audcad weekly forex analysis with weekly forex trading strategy AudCad Weekly forex analysis with weekl forex trading strategy from 25th, April, 2022
This pair has a same scenario as the analysis we shared on AudUsd (please check)
Fundamentally, Retail sales report from Canada released on 22,Apr, 2022 saw some median impact effect on the market in the bearish direction. We should be expecting on the 26th, April, 2022, the BOC Governors speech by 1:55 pm (NGN time) and inflation rate report from Australia on the 27th, April, 2022.
Sentimentally, let’s not forget that AudCad is purely a commodity based pair and for the meantime as Oil prices are still on the High demand with Canada being the third largest exporters, we could see some appreciative rise in Cad against the Aud
Technically, Just as we have in Aud usd, (please refer). Price is approaching from a weekly supply zone as shown and price has broken and closed below the moving average creating an unmitigated zone on the 4hr chart around 0.9255 . I would be watching if price would react to that supply zone to be mitigated to take a short trade on the AudCad and hold till price reaches for the daily Demand zone around 0.8896.
Let’s go take some risk, let’s go make some money. As always, your comments and ideas are very much appreciated and welcomed.
