2019-11-11 • Updated
Trade ideas
SELL 0.7470; TP 0.7430; SL 0.7485
BUY 0.7510; TP 0.7570; SL 0.7490
The CAD has fallen versus the most major currencies after the Bank of Canada said that it considered an insurance rate cut. Have a look at the chart of CAD/CHF: the pair is testing daily moving averages. A close below 0.7490 on Friday will result in a bearish “engulfing” candlestick and open the way down to the 2018-2019 support line in the 0.7315/00 area. The decline below 0.7470 may trigger the slide to 0.7450 and 0.7430. Below 0.7400, another swing down towards 0.7300 will start. On the upside, a return above 0.75 (200-day MA) is needed to open the way up to 0.7570 and higher.
Canada's forthcoming Consumer Price Index (CPI) data, set for release on Tuesday, is projected to show a year-on-year decline in inflation to 3.2% for October from the previous 3.8%. This potential inflation dip might offer leeway for the Bank of Canada (BoC) to maintain its overnight rate target at 5.0% in the...
The Bank of Japan (BoJ) recently concluded its October monetary policy review meeting, deciding not to make any adjustments to its current policy settings. This means the interest rate remains at -10bps, and the 10-year JGB yield target remains at 0%. A noteworthy change...
The Bank of Canada (BoC) is widely expected to leave its policy rate unchanged at 5% in its upcoming meeting, maintaining a hawkish stance in the face of rising inflation. The Canadian Dollar (CAD) has weakened against the US Dollar (USD) since...
Gold price (XAU/USD) experienced a notable turnaround, gaining fresh bids after a $125 pullback from its recent peak. Federal Reserve Chair Jerome Powell's recent speech suggested a reluctance towards aggressive rate cuts, dampening speculations of immediate policy easing. Market sentiment leans towards the belief that the Fed has concluded its tightening cycle, with a growing...
Bitcoin's price remains stagnant despite the Fed's slightly less hawkish tone. In contrast, Bitcoin has outperformed other assets, doubling in price from $16K to nearly $38K this year. Improved fundamentals, including the resolution of Binance concerns...
Hey folks, it’s a wrap to yet another month in the 2023 calendar, and I’m guessing you know what that means - time for another episode in the “What To Trade” series. For December, I will be mapping out trade more cautiously as the market volatility often drops
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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