4d (edited) • Archie Trade Analysis
AUD/CAD long before CPI print
Been holding on tight to AUDCAD now for over a week.
185bps in rate differential between the two currencies. RBA actively hiking, BOC just finished a cutting cycle.
Both net exporters of oil so that largely washes out the war volatility.
AUD CPI tomorrow morning BKK time will be the make or break for this trade. A hot CPI print and we push above the resistance. A weak CPI print and straight to stop loss.
Why? Because not only is the macro data then looking towards the RBA holding rates and not hiking them. But also there's a record net positions of long AUD right now which will flood out of the markets.
My expectation is a hot print with oil up inflation should rise. Poly market has it priced at 87% change of a rate hike in May. ASX has it as 74% so odds are in favour of the trade.
Any questions please drop them below
(This is not a signal and is not financial advice. This post is for educational purposes only and you absolutely must do your own independent analysis before taking any trades. GRIT Trading Academy takes no responsibility for any losses that may occur from educational content)
0
0 comments
AUD/CAD long before CPI print
powered by
skool.com/trade-lab-6140
I have designed this Skool to give you edge in the market. I teach technical and fundamental analysis. Giving you the best chance of profitability
Suggested communities
Powered by