Canada Dollar is strenghten agains the US Dollar: FundamentalsIn this technical analysis, US Dollar agains the Cadandian Dollar!!!
Remember tha expectative for US Dollar is bullish, but we are to find down the Elliot Wave # E, I believe that this par is one of the best technical anlysis to make money in the next week invest a considerale lots to earn money!!!! But, It's so beautiful to see how US it's been one of the country more with Covid-19 cases, That spend time a drop off of more of 4% in US Dollar.
In Daily, rememebr we follow this squenze, because we are to find down the Elliot Wave # 5 in Daily timeframe. Also, if you noticed it, we are in the shoulder head shoulder with a possible drop of the price. So, I prepared to invest in this par for the next week to earn money. As we follow the elliot wave squenze, we are in the good zone to put in short position
Now, in H4 timeframe ther are an interesting entry in short, remember that the key is in H4 and Daily timeframe, are the most effective entry in short. Also, in H4 I identify a formation of Bullish Gartley, for not of all, because the trend is beairhs and we hope a confirmation of the price, this i analysis is so interesting to put in short, so so interesiting that you not imagine.
Well, this is the fundamentals what I found out today:
1. USD/CAD falls to one-week low as Bank of Canada says economy amoided worst case scenarios.
2. Bank of Canada kept it's fench-mark interest rates at the effective lower bound of 0.25% and now to keep rates unchanged until at least 2023.
3. Bank of Canada say a recent data had suggested the economy had bottomed in April, in a boost to hopes of a robust recovery
4. A comment of the Bank of Canda said this morning;
"We now estimate that the economy contracted by afort 15% in hte fist half of the year, but as deep as this it, it sugggest the economy has
avoided the most scenarios .
5. Bank of Canada did an indication that permanent scaning from the covid-19 pandemic will reduce the economy's long-term productive in 2022
6. Following the Canda's trend, the bank also pledged to continue to purchase government's bonds to keep rates low across the yield curve and support lending activity, and the back will continue its large-scale asset purchase program at a pace of at laast $5 billion of Canadian Dollar per week of governments to purhcase Canada govern'ment's bonds.
So, this is so bullish for CAD and bearish for USD, that is simple!!!
