The Aussie has been in rapid decline as the nation is enduring it's pre-election period!
At these times many nations take advantage of devaluing their currency, making commerce cheaper in order to bring back Foreign Investors. In turn this flourishes the economy post election. On a fundamental basis a short is most probable, and TA supports this idea. The...
After it made the all-time low, it went up and then made a complete regular flat in 1W. After that, it made a reversal impulse and correction. The last bottom you see here can be the end of that correction which is a regular flat. As you can see it got a reaction from 0.786 retracement level and the upward wave can be the reversal impulse. Now, I'm...
Trading Plan Week 18, 2019 (20th May - 24th May 2019)
Plan 1 - AUDCAD - Bearish
Resistance ahead: 0.93317
Market direction: Bearish
Entry method = flyzonemethod
The price action is still very bearish. Look for pullback around 0.93317 area then only sell. Important! You need a entry method to sell and not blindly jump in.
Symbol: AUD.CAD - Australian Dollar / Canadian Dollar
Predicted Direction: Short
AUD.CAD - Australian Dollar / Canadian Dollar updates will be available in the comments section below as price-action develops.
I've been looking for a short trade on this pair for a few weeks - we've had a break of the pullback and structurally it looks very similar to the previous "peaks" There is no set up at the moment but if we get a small flag look to trade the break out. If we don't get a set up then leave it alone. I'm not expecting any fireworks with this one but i have a sneaking...