I present to you one more of my "workhorses" in the cross-rate segment - a pair of AUDCAD. This is a unique cross in its clear middle passages. I began to work with this tool thanks to my acquaintance with the caste of Moscow grid traders with a turnover of millions of dollars.
Good evening, dear traders
As promised, I bring to your attention one more of my "workhorses" in the cross-rate segment - a couple of AUDCAD. This is a unique cross in its clear middle passages. I began to work with this tool thanks to my acquaintance with the caste of Moscow grid traders with a turnover of millions of dollars. And this cross would not be their last place. Like NZDCHF, this cross has a certain peculiarity - any strong movement in the 700p range of 4 knows a rollback of at least half. And just right now AUDCAD He passed the value of the average recoilless value of 700p laid to him.
From the point of view of fundamental analysis for Australia this night - a decision on the interest rate of 4-30 Moscow time, and on Friday across Canada, a change in employment at 15-30. All these events will lead to increased volatility of a clearly overbought instrument, and we can count on correction from a fall of 100-200p by 4 characters. The closest resistance level behind which sellers are standing is ROUND level 0.9, and at least a false breakdown is most likely in these conditions. Also amid declining interest rates on the New Zealand dollar, Australia could also take that step. But our plan will not change. For this, it is necessary to place a limit purchase order at a minimum of the current year below the quote 0.8888 and take profit at the level of 0.9. Good luck in trading, and follow the rules of money management!
The material has been provided by InstaForex Company - www.instaforex.com