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
Mixed
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
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The Euro #Stoxx 50 has failed to sustain a break above the 200DMA, signalling signs that upside in the index may be stalling in the short-term. Get your markt update from @JMcQueenFX here: https://t.co/tPsbDcOYqN https://t.co/kT6iLncXjq
  • 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
AUDCAD Giving The Shorts Another Look

AUDCAD Giving The Shorts Another Look

2015-01-27 15:34:00
Paul Robinson, Strategist
Share:

Talking Points:

  • AUDCAD lower after hitting major resistance
  • Forming a head-and-shoulders pattern on the 4-hr
  • A move towards 9650 looks probable on a neckline break

Last week, it was pointed out that AUDCAD was trading at a confluence of resistance levels. After pulling off those levels, a head-and-shoulders pattern is forming on the 4-hr chart. The height of the pattern indicates a measured move of about 280 pips from the neckline, with a target below 9500, however; due to the pattern being ‘tall and narrow’ (less probable to meet measured target), I am focusing on a target equal to the first leg down from 10068 to 9786. If 9930 (morning high) turns out to be the right shoulder, the target I am looking for is 280 pips from that peak – 9650.

AUDCAD 4-hr: Dec '14 - Present

AUDCAD Giving The Shorts Another Look

--- Written by Paul Robinson, DailyFX Research

To contact Paul, you can email him at instructor@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.