AUDCAD has given 145 pips this week. AUDCAD is still in a range going back to June 2013.
For the next week i don't seem to grasp what is going to happen, both AUD and CAD is strongly going up, resulting in rejection in the two boxes i have stated out. I believe that the long term view is that AUDCAD will go down to historical 0.92000 but the lack of lower lows doesn't support that idea. My short term view is that AUDCAD will continue to rise higher, but that bias can change any time the pair shows rejection at any level. I will watch this pair and see how it plays out. It's not my strongest recommendation to trade.
Any breakout of the boxes can result of me getting into the trade, but i will always wait for confirmation.
High impact news for the coming week
Thursday, July 20, 2017
AUD Employment Change (JUN)
AUD Unemployment Rate (JUN)
Friday, July 21, 2017
CAD Consumer Price Index (YoY) (JUN)
For the next week i don't seem to grasp what is going to happen, both AUD and CAD is strongly going up, resulting in rejection in the two boxes i have stated out. I believe that the long term view is that AUDCAD will go down to historical 0.92000 but the lack of lower lows doesn't support that idea. My short term view is that AUDCAD will continue to rise higher, but that bias can change any time the pair shows rejection at any level. I will watch this pair and see how it plays out. It's not my strongest recommendation to trade.
Any breakout of the boxes can result of me getting into the trade, but i will always wait for confirmation.
High impact news for the coming week
Thursday, July 20, 2017
AUD Employment Change (JUN)
AUD Unemployment Rate (JUN)
Friday, July 21, 2017
CAD Consumer Price Index (YoY) (JUN)