Last night, the Bank of Canada decided to raise its interest rate by 25 basis points, bringing it to 4.75%. This move came after a pause in the tightening campaign during the two previous meetings. As a result, borrowing costs reached a level not seen in 22 years. Because most of the market, approximately 60%, expected interest rates to remain unchanged, the...
its near the dynamic resistance line in the weekly timeframe and also the static resistance line in Daily Timeframe.
if The PMI News Comes Bad for CAD Sell position is confirmed.
it is safer to enter when the short uptrend line got broken.
share your ideas with Me :)
The USDCAD is in my opinion in a WXYXZ formation. There, the loonie is already in the X2 and should form a abcde correction. This is already in the final stages and should fall within the e at least 1.25 or lower, which is a very good move for a currency pair. At 1.20, the e and thus the X2 could find its end. Once this has taken place, a strong devaluation of the...
If price breaks the light-red-colored trend line, price will fall to meet the next support at 148.033. Else, I'll reconsider long the retest of the big trend line in red.
Just an idea, not a signal. Compare it with yours and leave a comment, letting me know what you think.
