Strategies trading these pairs are currently being monitored as they have risen very quickly in a short period of time.
AUDCAD in last 5 days has risen from 90.200 to 91.800. It is similar with NZDCAD.
Reasons appear to be the uncertainty with wars in Europe, China reporting positive data so tariffs not hurting as much through (which is Australia’s main trading partner) and talk of US decreasing interest rates.
Whilst we do not like draw downs it is part of trading and need to monitor.
Disclaimer: While all reasonable care has been taken in the preparation of this information, Brindabella Capital take no responsibility for any actions taken based on information contained herein or for any errors or omissions. Interested parties should seek independent advice prior to acting on any information presented.
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Trading on forex markets carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading on forex markets may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.