AUD CAD Overview

The end of this week is very calm; traders are still digesting the US CPI data. In fact, we are digesting the market's reaction to the CPI. The chances of further rate hikes have gone up, but at the same time, the value of the USD has decreased. That is not what they teach us at schools. Anyway, we....

CPI came out better, but USD got weaker. There’s definitely some logic behind this, but today, we will focus on technical analysis. Here, we were getting the sell signal for USD even before the data hit the airwaves. GBPUSD defended a very important horizontal support at 1.3850 and broke the upper ....

Cable did not hesitate too much on the horizontal resistance created by the lows from February 2016. We had a bit of bearish price action, but eventually, buyers managed to break that resistance and went significantly higher. Current sentiment is positive and will remain so as long as we stay above....

The negative sentiment was avoided on the EURUSD yesterday. The price came back above 1.1730 before breaking the upper line of the flag formation. This, on the contrary, triggers a buy signal. The risk of another false breakout is high, though, as the bearish reversal during the European session is....

Trading opportunities for the currency pair: The price has twice rebounded from the S1 line. Because of this, the Aussie dollar is expected to strengthen against its Canadian counterpart as far as the TL1 line with targets of 1.0211 (high point from the 7th of June) and 1.0327. This scenario will no...