Hi Traders! There is a triangle pattern on the USDCAD 4H chart ahead of the Bank of Canada (BoC) Monetary Policy Report, Rate Decision, and press conference. Here are the details: The price action looks bullish due to US dollar strength, and the market is currently in a consolidation phase in the triangle. Depending on what we get later from the Bank of...
We saw a huge sell off when EURCAD broke it's uptrend last week so I'm watching GBPCAD to see if we get a similar flush. Price has been holding the trend now for several days with price barely able to escape and push higher, leading to further tightening. Entry signal would be a non ambiguous break of the Daily trend with stop above high of day if possible....
Certain weeks stand out in importance, and the week ahead is shaping up to be one of them. On the economic calendar we have the Eurozone & Canada CPI as standouts for Tuesday, UK CPI & FOMC on Wednesday. Such action-packed weeks often provide the catalyst for the next move in the markets. Our attention is currently drawn to the EURCAD for multiple reasons....
Just noticed this interesting trendline going back to 2016 that's holding strong, coinciding with a retest of a midrange going back to 2015. Looks primed to head to the top of the range. From there we'll see if it begins a new range above this one.
Pretty simple play here. USDCAD tightly coiling up since Sept 2022. Higher lows. Looks like it wants to explode, even a surprise rate hike by the Bank of Canada wasn't enough to sweep the lows. Tight invalidation. US trudging ahead with rate hikes while the market is in disbelief and calling J Powell's bluff. But he's not bluffing. Canada has the bubbliest...
The USDCAD traded lower, since the start of June, reversing from the 1.3650 price level, now hovering along the 1.34 price level. Over the last couple of days, the USDCAD had been in a narrow downward range. The Bank of Canada (BoC) is due to announce its interest rate decision. With the current rates at 4.50%, there has been speculation that a surprise rate...
The Canadian dollar is trading close to a two-month low, as the currency remains under pressure. USD/CAD is trading at 1.3646 in the European session, up 0.34%. Canada releases GDP later today, and the markets are projecting a modest 0.4% q/q for the first quarter, after flatlining in Q4 2022. On an annualized basis, GDP is expected to jump by 2.5%, after...
It could be a busy day for the US dollar, with the release of nonfarm payrolls later today. Canada posted a strong employment report on Thursday, as employment change and unemployment were better than expected. In the European session, USD/CAD is trading at 1.3501, up 0.07%. All eyes are on US nonfarm payrolls, with a consensus estimate of 240,000 for March,...
The Canadian dollar usually is calm prior to the North American session, but USD/CAD has posted steady gains in the Asian and European sessions. USD/CAD is trading at 1.2993, down 0.73% on the day. Canada releases the August employment report later today, with a market consensus of 15.0 thousand. The economy has shed jobs over the past two months, as the labour...
Hey traders, in the coming week we are monitoring AUDCAD for a selling opportunity around 0.88800 zone, once we will receive any bearish confirmation the trade will be executed. Trade safe, Joe.
Higher commodity prices will strengthen the Canadian currency. Oil prices have increased, and Canadian bond yields have risen further. In addition, the Bank of Canada stated that it was prepared to act "more firmly if necessary" to return inflation to its target level. The Bank of Canada has already raised rates by two straight half-points. According to the Ivey...
Fundamentals: See prior notes on USDCAD, EURCAD and AUDCAD... Technicals: (1) Past Support = Future Resistance (2) Key fib confluence @ 61.8%/50% (3) Bearish pin bar (4) Daily and Weekly U3
Hello Traders Here is a new Short Opportunity 💹USD/CAD - SELL STOP ✅ Entry @1.24400 or below ✅TP-1# 1.24200 ✅TP-2# 1.24000 ✅TP-3# 1.23900 ✅SL# 24.900 The Canadian Dollar is coming off of a big week after the Bank of Canada surprised by announcing an end to their QE program. This happened on Wednesday and brought a strong push of CAD-strength into the mix, as...
QE has ended. During the monetary policy meeting yesterday, the Bank of Canada (BoC) carried out a hawkish move. The initial expectation from the market was for the central bank to taper its quantitative easing (QE) from C$2 billion per week to C$1 billion per week. However, the BoC surprised the market by bringing its QE to a halt. Rate hike timeline carried...
Stock is just Breakout from 4 hour time correction...stock can create Long position above 130 for target 170 with SL 120....stock Can be outperform whole banking sector in next 6 months
Today Bank of Canada will publish their interest rate decision. We don't expect any changes, but there will be moves in the market! Last time in April, the interest rate remained unchanged, however there was a 150 pips move in the first hour! That's why we should expect moves today. USDCAD is currently trading sideways, which is very likely to end today....
NOT THAT IT MATTERS, THE BANK OF CANADA WILL DESTROY YOUR SAVINGS BEFORE IT LETS ANY OF THESE FUCKERS GO DOWN! BUT...IF YOU HAVE ACCOUNTS WITH BMO, I WOULD HEAD FOR THE EXIT JUST TO BE SAFE!
Price is creating a lovely pattern (Head and shoulders). If price breaks the neckline, we'll see it dropping nicely for next days.