VantageFX
Long

Expecting a dovish BoC? USD/CAD possibly setting up for a pop.

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
Trading the Canadian Election?

After printing 9 days without a single bearish candle and going on the pair’s longest bullish streak in 4 years, it all seems to have come undone for USD/CAD             . Last week, price on the Loonie pulled back to re-test previous resistance now as possible support. It’s a very clean level and if momentum stalls, could offer a chance to fade against it.

With the Bank of Canada’s interest rate decision on the calendar tonight, the support that fiscal spending will bring could see Poloz sit on his hands and see if the government can do some of the stimulatory work for him. The question becomes how much weight would a tap on the shoulder from Trudeau asking the BoC             to keep a dovish course hold? Governments crave early momentum and even if the bank is unmoved on rates, a dovish tone tonight could give the spur needed.

Do you see opportunity trading the Canadian Dollar?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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