AUDCAD: Weak CAD, need a pullback for an entry
Canada's inflation is well below 2%, and with GDP underperforming at 1.7% annualized, the time to cut rates from 5% could be this Wednesday.
If this doesn't happen, we could see a snapback in the market near the 0.9050 area, which would be a good potential entry.
Australia's inflation rate is 3.4%, so no rate cut coming soon.
NO TRADE
Trend: Bullish
Momentum: Bullish
Japanese Candlestick Pattern: Bullish Engulfing on 4/22
Chart Pattern: Bullish Channel
Support and Resistance: 0.8600, 0.9000, and 0.9350 are all in play near-term.
If this doesn't happen, we could see a snapback in the market near the 0.9050 area, which would be a good potential entry.
Australia's inflation rate is 3.4%, so no rate cut coming soon.
NO TRADE
Trend: Bullish
Momentum: Bullish
Japanese Candlestick Pattern: Bullish Engulfing on 4/22
Chart Pattern: Bullish Channel
Support and Resistance: 0.8600, 0.9000, and 0.9350 are all in play near-term.
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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.
For more analysis, signals, education, and more sign up for Forex Forecast. It's free.
positionforex.com/join-forex-forecast/
positionforex.com/join-forex-forecast/
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.