Loonie: I go LONG, but thinking about CPI tomorrow.

FX:USDCAD   U.S. Dollar / Canadian Dollar
150 1 3
Commodity currencies today reacted differently vs EUR , JPY , and GBP, Loonie, Kiwi, Aussie appreciated vs greenback, I am finding a reason to explain it.

Greenback is coming back, that is a FACT.

The reason according to my thought, investors have no replacement asset to buy currently on greenback and US Equity have chance to rally : US economy is still better than orthers, so the best case is BUY AMERICA.

Back to Loonie, I go LONG cause of weak data, BOC             dovishness, but I am not sure about Canada CPI             tomorrow.

If data is negative, absolutely USDCAD             rallies and vice versa.

But the problem is I don't think CPI             could be negative. I think data would be positive.
it's so headache right now.

UDSCAD now stops at Kumo cloud and Kijun Sen : A strong resistance, that why we see USDCAD             is fighting to break this level.

RSI indicator : currently 49, need above 50 to confrim uptrend. Resistance of RSI was broken, more room to rally to overbought zone

However, to choose a position, I still choose LONG.
thank so much.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out