CAD outlook bearish for the next few weeks to months. Expectation is that the risk factors surrounding the Canadian economy will begin to unravel. NAFTA fears. Housing crisis. IMF cut growth outlook. Ontario debt is a massive concern which Moody's has reduced their outlook to negative. The election is slated for early June in Ontario and it will be the canary in...
Previous support turned into resistance. CAD looking bearish across the board. USDCAD holding ground. EURCAD holding ground. CADJPY looking for move lower. Price had been consolidating all week and this may be the catalyst for a breakdown
EURGBP broke support recently. Retracing back up high chance it will turn into resistance and collapse down into the 83.00 area where the next level of support is.
CAD has had a nice recovery from previously getting hammered earlier in the year. The move up has has some serious strength, but appears to be waning in strength across the board. usdcad and cadjpy are entering into a consolidation zone. This may be due to the BoC rate decision tomorrow, and this may surge the CAD higher, or be the catalyst for it to crumble. I...
Earnings season will push Dow into 25k territory where it will fail to hold and plummet to a support zone that has been tested twice already. The idea is that after earnings season, rate hikes and macro volatility will be in focus resulting in investors cashing out of the market, fleeing into cash/gold. This will drive the USD up while crumbling equities. After...
Currently appears to be in a range. Cross pairs showing strength weakness. Dollar due for a pullback. China trade war fears easing. Equity markets may begin to unwind after earnings season and may result in an outflow due to volatility + overvaluation. Also fed tightening and rate hikes may result in the dollar gaining strength with a risk off sentiment. Even with...
