Short term bullish harmonic patternWould only take a target 1 to the 38% fib level. Since the overall daily chart has a gigantic Bearish crab pattern. I've already scaled out of my short position after spotting this pattern. My overall bias on CADYEN is bearish. If we can get a rally and drop, i'll scale in another lot. let's see what happens.
Canada
Heavy volatility affecting the CAD in the coming hours and days.There will be some important announcements coming affecting the CAD/USD.
It would be hard to make a prediction at this point but a buy stop or sell stop on either side could be a good idea.
Time (April 16th) Country Event Importance
2 am (9 pm ET time) China GDP q/y High
2 am China Industrial Production y/y High
2 am China Fixed Asset Investment ytd Medium
12:30 pm US Building Permits High
12:30 pm Canada Foreign Securities Purchases Medium
12:30 pm US Housing Starts Medium
1:15 pm US Capacity Utilization Rate Medium
1:15 pm US Industrial Production Medium
2 pm Canada Bank of Canada Policy Report High
2 pm Canada Overnight rate High
2 pm Canada Rate Statement High
2:30 pm Oil Oil Inventories Medium
3:15 pm Canada BOC Press conferece High
4:15 pm US Fed Chair Yellen Speaks High
6 pm US Beige Book Medium
April 17th
12:30 pm Canada CPI (inflation) High
12:30 pm US Unemployment Claims High
2 pm US Philly Fed Manufacturing Index High
April 18th Easter Holidays! High