AUD - BULLISH
1️⃣ Risk sentiment was fuelled after the International Monetary Fund upgraded its global growth forecast.
2️⃣ The RBA held the cash rate target at a record low 0.1%, kept the size of its A$200 billion bond-buying program, signaling it is prepared to buy further bonds to help lower the jobless rate and spur wage growth.
3️⃣ The Australian Industry Group Performance of Construction Index jumped to a record high of 61.8 in March of in a sign of confidence that the country’s economy is on its path to a roaring rebound, while the IHS Markit Flash Australia Services Index was revised lower to 55.5 in March, signaling a further expansion in activity and new business.
CAD - BEARISH
1️⃣ Concerns still exist about the prospect of producers returning significant amounts of crude to the market over the next three months.
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Technical
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We are buying the AUDCAD at RBS + above SMA 50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ Risk sentiment was fuelled after the International Monetary Fund upgraded its global growth forecast.
2️⃣ The RBA held the cash rate target at a record low 0.1%, kept the size of its A$200 billion bond-buying program, signaling it is prepared to buy further bonds to help lower the jobless rate and spur wage growth.
3️⃣ The Australian Industry Group Performance of Construction Index jumped to a record high of 61.8 in March of in a sign of confidence that the country’s economy is on its path to a roaring rebound, while the IHS Markit Flash Australia Services Index was revised lower to 55.5 in March, signaling a further expansion in activity and new business.
CAD - BEARISH
1️⃣ Concerns still exist about the prospect of producers returning significant amounts of crude to the market over the next three months.
=====
Technical
=====
We are buying the AUDCAD at RBS + above SMA 50 on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
Trade closed manually
✅ CLOSE MANUALLY AT 0.96350+25 PIPS
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.