章节 20  Is AUDCAD continuing the downtrend?

26/03/2023


Summary
Canada CPI  leads the market

Fundamental analysis
Fundamentally on this pair of AUDCAD, we saw last week the inflation rate CPI went down from 5.9% to 5.2% this result will make the Bank of Canada won't be very aggressive to increase interest rates also we have News on new housing prices YoY Went down from 2.7% to 1.4% Both this result giving negativity for the Canadian dollar, on the other hand, we don't have that much impact in use on the Australian Dollar.




Canada CPI YoY

Previous 5.9
Actual 5.2




Is AUDCAD continuing the downtrend? -第1张图


Canada New Housing Price Index YoY

Previous 2.7%
Actual 1.4%



Is AUDCAD continuing the downtrend? -第2张图



Technical analysis
In this 4-hour diagram chart, the market price now is 0.91280, we expect the market to push up the price to the previous supply zone at 0.91800  then we expect the price to create a new lower high inside this supply zone and then we expect the price to push even lower to the oldest demand zone at 0.90500 Creating lower high and lower low Creating downside channel with 20 moving averages pointing down.  







Trading Recommendation

Trading Direction: Short
Entry Price:0.91646
Target Price:0.90628
Stop Loss: 0.92130

Is AUDCAD continuing the downtrend? -第3张图

关于我们 用户协议隐私政策风险披露认证协议社区准则 帮助中心 意见反馈
App Store Android

风险披露

金融工具交易属于高风险投资活动,有导致部分或全部投资本金损失的风险,可能不适合所有投资者。本网站所包含的任何观点、聊天信息、通知、新闻资讯、研究调查、分析、价格或其他信息都是作为一般市场信息提供的,仅供教育和娱乐之用,并不构成投资建议。 所有的观点、市场行情、推荐或任何其他内容可能随时会改变,恕不另行通知。Trading.live对因使用或根据这些信息而直接或间接造成的任何损失或损害概不负责。

© 2024 Tradinglive Limited. All Rights Reserved.