It's Bank of Canada day ;)
Hike is expected by the Mr Market
In my opinion it's big "if", even if they hike it will be dovish hike.
So I do expect lower levels ahead of or right after ( stop hunt ) and then higher prices towards 1,35.
Invalidation of that bullish view with daily close below 1,3150.
The Federal Open Market Committee (FOMC) is expected to unveil another rate hike this Wednesday, December 19th 2018. Probability of a rate hike is quite high, as a neutral or easing federal funds rate would indicate "a need for stimulus" in the U.S. economy (God forbid the FED indicates weakness in the economy while the stock market is sitting just above critical...
=> We still maintain our USDCAD short position from earlier in the week and recommend selling all corrective rallies here ahead of the BoC rate hike widely expected this month.
=> Although the rate hike is expected this trade is far from crowded and we see incoming data to keep the BoC on track with tightening monetary policy.
=> Odds of any hikes are close to 90%...
if you look at the response given by the gold after the interest rate increases, it seems that a rising wave can start again. 1170-1180 maybe a nice buy level.
(actually you can see the hiking rate of 2011 on the chart)
In lew of the Interest rate decision here is a new tactical entry for those who want to trade on the surprise factor.
A hike is already priced in so no confusion there. The Euro shall decline a bit but not significantly.
So the idea of going against the grain and buying up the euro before the hike has a much better potential in terms of RRR.
Please I appreciate...
We are back with a short of every bodies favorite currency, gold! (Did you know gold is God with an "L"? HA!)
On that note, opening a short here on this very evident descending triangle fractal on Gold/USD setting our sights on a T1 of 1280, will update as we go along.
Act wisely or hodl peace ever fourth.
It's kinda obvious for me that the USD will dominate CAD during the following months.
With the increasing probability of 4 rate hikes from the FED and sluggish oil prices, I see nothing but weakness from CAD.
Long term trendline approching, placed short entry at 1.32, SL at 1.33, TP at 1.28 (old resistance now found as support).
Since the long term trendline...
Well , I have two or three reason that the EUR/CAD is going down as I think that we have take short position
first reason as you see , in the daily chart , the price reached the top of the ascending trendline border and the a double top pattern is made creating a two year major resistance ...
as well as I read before that there may be a hike next april for the...
A potential trade idea however due to FED rate hike potential we will sit this one out likely as volatility may be just to great and the risk is higher on this one, however this is a good one to watch and keep an eye on for June 14th 2017 US Session.
Inverse H&S pattern (forming)
Higher low (forming)
Bullish MACD divergence
FX:USDJPY broke the 50DMA once again and looking bearish in my opinion. The breakdown and downtrend is also supported by the moving averages on the hourly timeframes.
Don't have any big positions as I expected it to retest the 114 breakdown level but it didn't happen
4H Timeframe View:
FX:USDJPY tried to break the...
OANDA:XAUUSD has broken out of the downtrend after the 1260 rejection and with hourly timeframe moving averages confirming the trend change. Bulls are still in the game and it looks like it will have another try against the Wall of Trump resistance.
No big positions as of yet as I expected a pullback that didn't materialize and it consolidated for 2 days...
The dollar index on the daily chart you can see that we are now in a key area where it is testing resistance from February and November 2015, due to recent results from the US raising interest rates this has caused concern for investors and we have seen a big sell off, I believe we may see a big sell off again after the pullback to 99.26 0.382 fib or even gain...
FX_IDC:XAUUSD now has a bullish daily hammer courtesy of Janet Yellen after being rejected from 1260 level. If the bullish momentum continues then FX_IDC:XAUUSD might have the weapon it needs to break that wall and the cluster of moving averages but it needs to get back to the fight.
SL: 1227(Moved to 1229.5)
TP: (tp1) 1246 (tp2) 1251 (tp3)...