USDCAD - Inflation cooling ?Hello Traders,
Hope everyone is having a great April, our views on #usdcad are simply as per the chart.
Should price remain above 1.33500, could see buys continue to
1.35000 price handle.
Risk to reward 1:2.2
Chart indicators show points of interest / control
PML = Prior Monthly Low and vice versa for PMH
PWL = Prior Weekly Low and vice verse for PWH
Let's see how this week finishes!
Supporting Economic news :
Canada’s annual inflation rate fell in March, according to a recent report by Statistics Canada. The rate dropped from 5.2% in February to 4.3% last month, with the decrease attributable to higher mortgage interest costs being offset by lower energy prices.
Gold prices hovered around key levels in Asian trade on Wednesday as markets awaited more cues on U.S. monetary policy from a string of upcoming Federal Reserve speakers and reports.
The yellow metal retook the HKEX:2 ,000 level on Tuesday as the dollar and U.S. Treasury yields cooled after a recent recovery rally. But further gains were held back by growing uncertainty over the path of U.S. interest rates, with recent hawkish signals from Fed speakers having spooked markets.
Crude oil inventories
Initial jobless claims
CAD Core Retail Sales
Could so mean possible downside in the #crypto market?
As always, only trade what you can afford to lose.
Trading Path
