USDCAD Breaking Lower Aaead Of BOC
North Korea tensions have again dominated the agenda at the start of this week and will continue to remain a major obstacle facing risk-sensitive assets in the near-term.
BOC
BOC Rate Decision Preview
Apart from Apple’s expected launch of the new iPhone, today’s other big event is the Bank of Canada’s rate decision, due at 15:00 BST (10:00 ET). Along with the consensus forecasts, we do not expect the BOC to make any changes to its policy.
USDCAD Countertrend Setup Apr 13, 2016
USDCAD has been trending lower, moving inside a descending channel pattern on its 4-hour time frame. Price is now making its way close to the channel support near the 1.2700-1.2750 and might be due for a bounce.
USDCAD Descending Triangle Sept 10, 2015
USDCAD has been moving sideways for quite some time, but the pair seems to have formed lower highs on the 1-hour time frame.
USDCAD Bullish Continuation July 16, 2015
After surging past the key resistance around 1.2800 during the BOC rate statement, USDCAD is forming a bullish flag pattern that suggests potential continuation.
USDCAD Short-Term Correction June 15, 2015
USDCAD is showing signs of a pullback on its 1-hour time frame, as the pair bounced off the 1.2200 major psychological support area. Price is now testing resistance at the 38.2% Fibonacci retracement level, which lines up with the short-term 100 SMA.