Last night, the Bank of Canada decided to raise its interest rate by 25 basis points, bringing it to 4.75%. This move came after a pause in the tightening campaign during the two previous meetings. As a result, borrowing costs reached a level not seen in 22 years. Because most of the market, approximately 60%, expected interest rates to remain unchanged, the...
Updated Forex chart on the Loonie. Price on major support and fundamentals coming out in Canada in 45 minutes.
This is a technical analysis followed by my sentimental/fundamental analysis.
ps. This is highly speculative, if you go in bigger lot sizes you might want to wait for the results in Canada before entering.
I am entering now
PREVIOUS LOONIE IDEA WENT ...
First trade of the week entering a short on FX:USDCAD .
Last week wasn't the best week as I took losses on FX:GBPUSD & FX:NZDUSD but lets see how this week goes.
Happy Trading :).
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
