Anyone up for a discussion with this pair AUDCAD

Trading Discussion Currencies
1

Hi All

AUDCADDaily
AUDCADDaily1217×580 12.6 KB

Anyone thinking of shorting the AUDCAD and why would they do it.

3 good reason’s

1 Over all down trend
2 Large gap to bridge
3 Support turned resistance.

Thanks

Daren

2

Its a short target for me this week (again). Wider perspective - apart from AUD/NZD, all AUD-based major pairs are bearish: all CAD-based pairs are bullish.

3

Hi Tommor thanks for the insight. Looking at past history AUD does like to finish the year strong between October and December, do you see any change on the horizon?

Daren

4

I agree with tommor here. Most, if not all, the AUD-based pairs are bearish this week. We have news for the Pound and Euro for the next few days, and US retail sales tomorrow morning. AUD/CAD might be a good short, but I think AUD/USD might show more volatility. I’m staying away from the pound this week.

5

Hi Darren, I have a short pending if we get a double top on the 240 where price is currently trading, this would allow for what I call a first chance trend continuation entry

6

Hi All

Thanks for sharing, looks like we are all in agreement. Have a great trading week.