Sforex
Long

Loonie: Where does the bull stop?. Canada CPI in the focus

FX:USDCAD   U.S. Dollar / Canadian Dollar
245 0 3
Well, BOC             cut rate, and lower GDP forecast.

Loonit hit hard after the surprising decision;I think this trend should continue.

Actually, last week, When I saw traders pricing for the rate cut decision, I guessed BOC             will cut rate..

And the rate decision yesterday could make any jump into the LONG position become a late decision.

However, I think we still have room to drive Loonie higher.

Tomorrow,The main focus is US CPI             + Canada CPI             .

If US CPI             is positive + Canada CPI             is negative, the divergence will push USDCAD             rally at least 100 pips.

On the other hand, profit taken could happen, and 1.2957 will be the year high.

If both data are negative. I have no idea in this case.

In short , I stick to the rally of USDCAD             .

The target I choose: 1.3100
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