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Our free forex signals service trade today is a sell order on the UAD/CAD.

The AUD/CAD pair is trading in the red at 0.9069 level at the time of writing. Technically, the price action signaled that the buyers are exhausted and that the bears could take the lead.

Still, we need strong confirmation before taking action. Fundamentally, the Aussie could slip lower after dovish RBA Monetary Policy Meeting Minutes.

3 Free Forex Every Week – Full Technical Analysis

The Canadian inflation data on Wednesday, and the Australian Employment Change and Unemployment Rate on Thursday represent high-impact events and could really shake the price.

The currency pair escaped from an up channel signaling that the upwards movement ended. Actually, the chart formation could represent a bearish pattern. In the short term, the rate moves somehow sideways before going down.

Canadian Housing Starts 244K Expected

Today, the Canadian Housing Starts could be reported at 244K versus 236K in the previous reporting period. Better than expected data could help the Loonie to resume its appreciation. From the technical point of view, the AUD/CAD pair could come back down if it makes a valid breakdown below the 0.9060. In the short term, it could come back to test and retest the near-term resistance levels before dropping deeper. 

Free forex signals – Sell AUD/CAD at 0.9045

free forex signals

Free forex signals entry price and takes profit

Instrument: AUD/CAD

Order Type: SELL STOP

Entry price: 0.9045

Stop Loss: 0.9133

TP1: 0.8895

My Risk: 1%

Risk / Reward Ratio: 1:1.7

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