It seems like the Canadian consumer has a firm grip on their wallet, which is no surprise given the current economic climate. Inflation in April crept up from 4.3% to 4.4%, adding to the financial woes.
USD/CAD: bears went hunting
2019-11-11 • Updated
TP1 1.2635 TP2 1.2375 TP3 1.2345
On the daily chart, USD/CAD keeps forming the “Shark” pattern. Its 88.6% target is near 1.2345. To continue the decline, bears have to settle below an important support at 1.2685 as well as the lower border of the uptrend channel.
On H1, USD/CAD reached 224% target of AB=CD. Beers want to continue the decline towards 88.6% target of the “Shark”.
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Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.