Dear All, here is my view on the AUDCAD
Overview:
Since early September the price is consolidating. On September 9 there was an impulsive upward move that formed the Demand Zone (DZ1) and left the Fair Value Gap behind it. The FVG was partially closed on September 14 after the impulsive down move (SZ was formed). However, the DZ1 was not mitigated (inducement). Later on, there was liquidity accumulation, which led to Supply Zone (SZ) mitigation. On September 23 the impulsive move formed a new Supply Zone.
Further Price movement:
I expect the price to reach the Demand Zone (DZ1). The further price action depends on the Retail Sales news (28.09.2022).
Results better than consensus will have a positive impact on AUD which means that the SZ will be the target.
Results worse than consensus will have a negative impact on AUD which means that the DZ2 will be the target.
Thank you and Good luck!
Overview:
Since early September the price is consolidating. On September 9 there was an impulsive upward move that formed the Demand Zone (DZ1) and left the Fair Value Gap behind it. The FVG was partially closed on September 14 after the impulsive down move (SZ was formed). However, the DZ1 was not mitigated (inducement). Later on, there was liquidity accumulation, which led to Supply Zone (SZ) mitigation. On September 23 the impulsive move formed a new Supply Zone.
Further Price movement:
I expect the price to reach the Demand Zone (DZ1). The further price action depends on the Retail Sales news (28.09.2022).
Results better than consensus will have a positive impact on AUD which means that the SZ will be the target.
Results worse than consensus will have a negative impact on AUD which means that the DZ2 will be the target.
Thank you and Good luck!
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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.