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...
View On USD/CAD (8 Dec 2022) There is something that you oughta know. The recent run up in the stock markets and fall of USD are fuelled by the expectation/hope on "the pivot" by the FED and the real answer will be on the FED rate decision of the next week. If the FED fails to do pivoting, I expect the stock market will fall and USD will resume it's UP...
In this update we review the recent price action in the USDCAD and identify the next high probability trading opportunity and price objectives ot target
The British Pound vs. the Canadian Dollar. This is one of the most traded pairs in the world. The Canadian Dollar, often referred to as the “Loonie”, is considered to be a commodity currency because of Canada’s heavy energy exports.
USDCAD Intraday - We look to Buy at 1.2900 (stop at 1.2840) Previous support located at 1.2900. Previous resistance located at 1.2950. Risk/Reward would be poor to call a buy from current levels. A move through 1.3000 will confirm the bullish momentum. Our profit targets will be 1.3050 and 1.3100 Resistance: 1.3000 / 1.3050 / 1.3100 Support: 1.2900 /...
DXY - Dollar Index has approached to its 5 year high of 103 - 104 with strong monthly candle. USDCAD - is approaching to the 2021 resistance level which it breaks during Covid-19 period. EURUSD - has been testing 2015/16 lows after breaking Covid-19 lows. Both the pairs are heavily dependent Dollar Index which remains in limelight after FED Interest rates...
USDCAD has made a pullback from recent highs prior to the USD 5 Year Note Auction, which reveals the yields on the government backed security. Technically the pair has pulled back into the trendline and the moving averages, which are currently in a bullish cross, and the key pivot level. We anticipate a rebound back up into the 1.2770 level.
We see price get rejected at support zone and we see a change in market structure. Another reason why you would want to go long is the double bottom formation and the previous daily candlestick which signals a trend reversal.
After failure of breaching 1.3997 , we suggest support found at 50% of wave ((iii)) ; end of wave ((iv)) We biased buy with stoploss / invalidation below 1.390 ; pre target @ 1.46 Hope you guys get some ideas. Thank you.
USDCAD approaching our demand zone on 4h. In our experience Supply and Demand zone act like magnets. Price has tested the supply zone and now we are on our way to the demand zone. We initiate long there with stops just below the zone.
*Yellow MA = 200 EMA | Blue MA = 100 EMA In this video, I go over the approaching support level for OANDA:GBPCAD and the potential play to the top of the consolidation box set after the reversal we see from January 2016 - October 2016. A play from the support to resistance is well over 1000 pips and has two different opportunities: 1. We bounce off of more...