I initially sold AUDCAD at 1.0619. Prices are testing above my stop-loss at 1.0664 but I will continue holding the position absent a daily close above that level. If the trade is stopped out, I will look for new selling opportunities in the days ahead to re-establish exposure to the longer-term trend of slowing Chinese economic growth versus improving performance in the US.
AUDCAD: Short Trade Triggered on Support Break
- May, 22 12:15 GMTCrude Nearing Key Pivot
- May, 15 12:30 GMTMore USD Patterns
- May, 14 10:14 GMTUSD remains pressured
- May, 13 18:40 GMTEUR/GBP Holds Near-Term Support, Retains Bullish RSI Momentum
- May, 13 14:45 GMTDaily Observations: Long GBP-crosses are Appealing