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.

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
EUR/USD
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Secretary Mnuchin says PPP program would be more targeted if extended - BBG
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.39% Gold: 0.17% Oil - US Crude: -2.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/iRyAVGGNBC
  • 🇺🇸 Wholesale Inventories MoM (MAY) Actual: -1.2% Expected: -1.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-07-09
  • Poll: Are the Nasdaq's and Shanghai Composite's anomalously persistent trends an indication of global risk appetite or is it an isolated appetite that risks running out of steam?
  • Tune in to @PeterHanksFX 's #webinar at 11:00 AM ET/3:00 PM GMT to learn how to identify trends with trader #sentiment. Register here: https://t.co/MqVMi2INbJ https://t.co/OD3f6v5RVy
  • 🇺🇸 Wholesale Inventories MoM (MAY) Actual: -1.2 Expected: -1.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-07-09
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.05%, while traders in US 500 are at opposite extremes with 71.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PECGbE52E9
  • Another remarkable gap higher on the open for the Nasdaq 100 while the likes of the S&P 500, DAX, carry, other risk-leaning assets are spinning their tires https://t.co/nPLpcnPOTy
  • China's Shanghai Composite ($SHCOMP) continues to drive higher. Biggest 7-day rally and weekly performance since Oct 2008. The Chinese gov't is the new Fed, but their efforts won't likely leverage a global risk appetite like the central bank https://t.co/fZU6ulDrLt
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 1.47% Gold: 0.17% Oil - US Crude: -0.96% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SMCkTGTR19
AUDCAD: Short Trade Triggered on Support Break

AUDCAD: Short Trade Triggered on Support Break

2012-02-22 02:23:00
Ilya Spivak, Head Strategist, APAC
Share:

Strategy: Short at 1.0619, Targeting 1.0523

AUDCAD followed a break lower from a rising channel carved out since early January with a push through support in the 1.0645-64 region marked by an upward-slowing trend line set from the November 23 low and the October 28 swing high.

Fundamentally, we see a short AUDCAD position as a way to gain exposure to relative Chinese versus US economic growth expectations. Australia and Canada are key commodity suppliers for China and the US respectively. Chinese GDP growth is forecast to slow in 2012 (8.5% vs. 9.2% in 2011) while that of the US is seen accelerating over the same period (2.2% vs. 1.7% in 2011).

We will enter short from here, targeting the November 30 swing high at 1.0523 as an initial objective. A stop-loss will be activated on a daily close above 1.0750.

AUDCAD_Short_Trade_Triggered_on_Support_Break_body_audcad.png, AUDCAD: Short Trade Triggered on Support Break

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

DISCLOSURES

News & Analysis at your fingertips.