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Audcadsell

AUDCAD - BEARISH BIAS.#AUD - Bearish Mode Recap: 1️⃣ Aussie down because of the rising COVID-19 cases in Australia,disappointing business confidence data and global risk sentiment moved towards negative. 2️⃣ U.S.-China tensions were once again a focus after China ordered the closure of a U.S. consulate in Chengdu and US Secretary of State Mike Pompeo urged China’s citizens to help ‘change the behaviour’ of their government. Review: 1️⃣ Australia CPI For Q2 - Bearish prediction — Dropped in consumer inflation expectations in Q2. 2️⃣ 2nd quarter GDP figures from key economies, COVID-19 news, and geopolitics will remain the key drivers. A jump in new COVID-19 cases and deteriorating relations with China would likely test support for the Aussie Dollar. ===== #CAD - Bullish Mode Recap: 1️⃣ Retail sales bounced back from April’s slump, with inflationary pressures picking up in June. 2️⃣ Crude oil prices also headed northwards in the week, providing the Loonie with support. Review: 1️⃣ Canada GDP for May - Bullish prediction — Stronger trade balance and retail sales.
Short
by MonsunAsia
AUDCAD-- sell market going sell strongly Hy! Smart Trader, Welcome to My Analysis and forecasting Section on Trading view. We are Creative price action Trader. Join with us as we document the in's and out's of my trading journey. we are publish Multiple Time frame Analysis and forecasting (totally Free) Never Trade alone we really hope you enjoy All trade.. Disclaimer: the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _______________________________________________________________________________________________ Thank you for your support!
Short
by morshedul-munna
AUDCAD consolidates again and poised for explosive sell offI published an idea previously, check it out here: Unfortunately, my previous idea did not hold up. But that's okay, we take smaller risks for multiple times the return. This is a second attempt to short into this pair. 1. 0.9125 marks a relative high point. You can see a fake out that occurred where price broke above this level and then instantly sold off. What does this mean? There's most likely selling volume above this level. 2. After such a rally, we're seeing that the moving averages are flat lining. This doesn't necessarily mean that the trend is reversing. All it's saying is that the average price climb isn't pushing new highs. As a result, it's largely holding flat. Could price soar up higher over the next day or even next week? Sure, it's definitely possible. I personally think that it's unlikely given how price reacted to the 0.9125 level. Let's not forget the significant rally from the weeks prior. New buying pressure largely seems unlikely. 3. We're also looking at the RSI performance on the daily. There's a slight divergence here where the RSI is painting lower, which signals that average upticks are not as strong. At the same time, price inches higher. Note that this is probably a longer term play. It might take a while for this trade to play out as this pair could further consolidate.
Short
by FinancialGamblR