News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (AUG) due at 01:30 GMT (15min) Previous: 57.3% https://www.dailyfx.com/economic-calendar#2021-09-28
  • Heads Up:🇦🇺 Retail Sales MoM Prel (AUG) due at 01:30 GMT (15min) Previous: -2.7% https://www.dailyfx.com/economic-calendar#2021-09-28
  • Join @FxWestwater at 22:00 EST/2:00 GMT for a webinar on preparing to trade commodities markets in the week ahead. Register here: https://t.co/qTOa61aMmN https://t.co/0215tACld8
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/Dq7umm2uyz
  • RT @FxWestwater: $NZDUSD Struggles as RBNZ Hike Bets Dim. Australian Retail Sales, Chinese Data Near Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/09/27/NZDUSD-Struggles-as-RBNZ-Hike-Bets-Dim-Australian-Retail-Sales-Chinese-Data-Near.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https:/…
  • Heads Up:🇯🇵 BoJ Monetary Policy Meeting Minutes due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-27
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/bDBOkVQlOO
  • Senate GOP blocks bill combining debt ceiling with government funding - BBG
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/DuVdXjufw9
  • Japan says North Korea may have launched ballistic missile Kyodo via BBG
AUD/CAD Daily Breakout

AUD/CAD Daily Breakout

Walker England, Forex Trading Instructor

Market Condition:AUD/CAD Daily Breakout

Target 1: 1.0169 (2015 High)

Target 2: 1.0835 (870 Extension)

Invalidation: Reversal Below .990

AUD/CAD Daily Chart

AUD/CAD Daily Breakout

(Created using Marketscope 2.0 Charts)

The AUD/CAD is attempting to breakout from a descending price channel that has been developing for the last two months. Breakouts can potentially be signaled on a move above the previous swing high, which is found at .9965. On a bullish breakout, traders can then begin to target the standing December 2015 high at 1.0169. Conversely, traders treating this breakout as a flag pattern may extrapolate 870 pips from the point of breakout to find targets near 1.0835.

In the event that a bullish breakout fails, traders will watch for prices to trade back inside of the previously mentioned price channel. This includes a move back below psychological resistance at .9900.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES