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AUD/CAD: Post-Macro News Analysis With Volume Profile 📊In today’s analysis, I am going to have a closer look at AUD/CAD. There was strong macroeconomic news released in the Asian session today. It was the AUD Cash Rate and RBA Rate Statement. Then later, there was the Annual Budget Release. All those were strong news which affected the AUD and caused the strong sell-off. When there is a new trend like we see now, I am always interested in what happened before the trend started. Volume Profile Analysis In this case, there was a rotation in which pretty heavy volumes were traded. This indicates that the big guys (big financial institutions) were entering their trading positions there. At that point, it was not clear whether those positions were Long or Short positions. Only after the strong post-macro sell-off, it became clear that the big guys were entering Shorts. This represents a nice trading opportunity. When the price makes it back into the heavy volume area, it is likely that it will work as a strong Resistance because the big guys will want to defend their Short positions. They placed most of them at 0.9530 (that’s the POC of the rotation) and this is also the place where the price is most likely to turn. Weekly POC Those big guys weren’t entering their Shorts only a few hours before the news release, but also through the whole previous week. It is nicely visible if you look at the Weekly Volume Profile. Our level at 0.9530 represents Weekly Point Of Control (POC) which is a strong level just by itself. It tells us that the heaviest volumes in the previous week were traded exactly at 0.9530. In our case, having a Weekly POC at our resistance level is a very nice confluence and confirmation. I hope you guys liked today’s analysis! Let me know what you think in the comments below. Happy trading! -Dale
by Trader_Dale
1
EUR/GBP Volume areas 📊On EUR/GBP is nice to see strong sell-off from the price 0.91110, there is nice to see strong volume area.... Where is lot of contract accumulated... I thing that sellers from this area will be defend this short position... and when the price come back to this area, strong sellers will be push down the market again... Strong sellers + Sell-off + Strong volume area is my mainly reason for this short trade.... If i see the Biggest Candle in the chart is RED , then i try find some good short trade... Happy trading Dale
by Trader_Dale
1
EURNZD Potential Long SETUPLooking @ the Published Chart. I will be using the Price level of 1.7740 has my inflection point. I have expectation for continuation to the UPSIDE in as much as we stay above 1.7740. I expect the following scenario: If the Market OPEN in BALANCE right where it closes last week, a) I expect us to test 1.7743,bounce off from here and resume the buying of EURNZD and potentially in a gift case scenario test of 1.7708 which would potentially give me a reason to consider this bearish if I do not see quick aggressive buying b)I will take a look @ NZD continued weakness will definitely help this trade so it is worth keeping an eye on as well.
Long
by BOLYX