| The 38.2% of the move down from early May comes in at 0.8698 |
You Might Also Like
USDCAD consolidata near highs. What next technically for the pair as the new week begins.
2024-10-28
Traders are watching support at 1.3888 and 1.3864 as close support
The EURUSD buyers are taking back some control from the sellers.
2024-10-24
In this video, I show you what that shift looks like.
Sellers in the GBPUSD push to modest support and remains below the 100 day MA
2024-10-23
The 100-day MA remains a key resistance target. Stay below is more bearish TODAY and going forward.
USDCAD stretches down to the swing area target as sellers remain in full control
2024-08-27
USDCAD recently dipped below key support levels following USD weakness driven by Powell’s speech, signaling continued momentum towards swing area target. Sellers in fim control
USDCAD falls to a new low for week & tests 200 bar MA on 4-hour chart/38.2% retracement
2024-06-20
The two technical levels come in at 1.3687
NZDUSD continues the fall from last week’s failure at the high going back to January
2024-06-17
The rotation lower is approaching technical support near 0.6100
Why the Canadian dollar is in for a rough ride
2024-06-13
It’s clear from Bank of Canada Governor Tiff Macklem’s latest speech that he wants to ease rates further but he’s still reluctant to signal it. That’s left us with the clunky line:
“With further and more sustained evidence that underlying inflation is easing, monetary policy no longer needs to be as restrictive as it has been.”
That’s an exact repeat of the line in the press conference last week where he also added that it was reasonable to expect further cuts, but only if inflation continues to ease.
I take it as a flimsy commitment to continue to ease by a central bank that’s worried about getting burned. If not for the mistakes of the post-covid cycle, the Bank of Canada would have lowered rates much further by now but generals always fight the last war so being late was
EURUSD moves to a new high and extends to the next swing area. What next technically?
2024-06-12
A swing area between 1.08538 and 1.08617 looms above. There may be some profit-taking against the area on the first look
Tags: Featured,newsletter
1 ping