AUD/CAD Further push towards targets
Last week we sold AUD/CAD in our Global Institute of Trading (GIT) discord community. We're currently holding shorts from 0.92530 with S/L at 0.93233 and T/P at 0.91260. (This is not a public signal, this is a trade we've already taken so please don't join in after reading this report. The trade is to far in profit to take now)
Looking to continue AUD/CAD short to the downside we see no reason to exit this trade as of yet. There really isn't much support in its way from reading its target so right now it's jsust a matter of letting the trade run and do its thing.
Using the Seasonal Prime data we also see that further predictions to push lower
If you look at the 'Long-term Prediction' you can see that price is under the 100 base line (purple line) which indicators a strong push down. we're sitting around 98.4. 'On the Long-term Prediction Candlesticks' you will also see that the predicted projection for price is to push towards 0.915 - 0.9090 zones over the coming days / weeks.
The 'Forecast Long-term Prediction' also indicates that in the coming weeks / month we will see price decline by a of -3.63%
Also, on the 'Buy side' of the market you see Asset Managers / Institution traders are short AUD of 94.8k lots and long 42.5k lots while Long CAD 43.9k lots and short 31.4k lots. It doesn't take a mathematician to understand that the big players are shorting AUD while buying CAD.
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