AUDCAD: Leveraging Probabilities for Strategic Long Positions
Updated
Key Fundamentals Supporting Bullish Bias:
- Recent strength in commodity prices, particularly iron ore, benefiting Australia's export-driven economy
- Expectations of a less hawkish stance from the Reserve Bank of Australia, potentially supporting economic growth
- Relative weakness in the Canadian dollar due to concerns over the housing market and oil price volatility
By utilizing probabilities in chart analysis, I can identify optimal entry points for AUDCAD longs while managing risk effectively. This approach allows for a more systematic trading strategy, aligning with the current bullish bias in the AUDCAD pair.
12M:
2W:
HOURLY TF:
- Recent strength in commodity prices, particularly iron ore, benefiting Australia's export-driven economy
- Expectations of a less hawkish stance from the Reserve Bank of Australia, potentially supporting economic growth
- Relative weakness in the Canadian dollar due to concerns over the housing market and oil price volatility
By utilizing probabilities in chart analysis, I can identify optimal entry points for AUDCAD longs while managing risk effectively. This approach allows for a more systematic trading strategy, aligning with the current bullish bias in the AUDCAD pair.
12M:
2W:
HOURLY TF:
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