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Audcadshort

⬇️ AUD/CAD prepare for a decline? ⬇️⬇️ AUD/CAD prepare for a decline? ⬇️ Since the start of the sideways trend that took place on October 10, it has been rather dull on this pair, a few breakout attempts and nothing more. ⬇️ But today's week has a lot of important events in store for both of these pairs. ⬇️ Starting at 1:30 a.m. on Tuesday English time, we will have the Minutes meeting where the current arriving data from the Australian economy will be discussed. ⬇️ Then on Wednesday, inflation readings from Canada. In which the market is betting that inflation will recede. ⬇️ And on Thursday culminating the week with Unemployment Rate data in Australia. In which the market currently expects no change ⬇️ It's shaping up to be a really exciting week. ⬇️ Turning to the technical side on the 4H chart I am currently discussing. We can see that we are below the 2 key moving averages MA 50 AND MA 200, which signals that we are in a deep downtrend. ⬇️ Then analyzing the MACD, we see nothing special on it, only low bars signaling a small range of movement over the past few days. ⬇️ RSI, on the other hand, is below the 50 line, which signals the continuation of the downward trend. ⬇️ Similarly, with Stoch where we are oscillating near the 20% zone, the breakout of which is a strongly bearish signal. ⬇️ The small range of movements and lack of interest in the pair provoke the continuation of the downtrend ⬇️ Stop loss was set above the accumulation range ⬇️ Target was set at the round level of 0.85 ⬇️ Risk/Reward: 1.58 🚀 If you like my analysis leave a like and follow my profile 🚀
Short
by InvestMate
7
AUDCAD SELL BIAS Hello Traders, today I share with you my AUDCAD Sell bias. Here's the H4 chart and overall, we see a market coming from an Head and Shoulder pattern, broken the neck-line of this H&S patterns and then is retesting the 61.8 fib level. Right from this level, we see the break of an ascending trendline and right now, i'm waiting to catch the retest and go short from there. I'd be staying reactive as the markets are very irrational this period. I however think that this will hold and our down side target, around 100pips from entry. Stay reactive. Give us a LIKE if you agree.
Short
by Tradeforpipsfx