capitalpropertiesfx

USDCAD ahead of the Bank of Canada

FX:USDCAD   U.S. Dollar / Canadian Dollar
80 0 1
Unfortunately, USDCAD             looks mixed ahead of the BOC             . Trend is up, no doubt in that but the inability to break the 1.14 has made me cautious. What also makes me doubt in further CAD weakness is the fact that AUDCAD             and EURCAD             both look very bearish to me at the moment.
Also the possible triangle makes things even more difficult to predict because if it proves to be a triangle, we may see a false break to either side, before the real move even begins.

Hence, I'll play it safe and wait until the end of the BOC             Press conferene and take it from there.
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