Browse By

KIV this USDCAD chart until the next BOC meeting

USDCAD at decade-long resistance-turn-support. What are prospects of breaking this level in conjunction with second rate hike? Retracement before that?

This USDCAD chart (quarterly candles, mid-2002 to present) is probably 2-weeks too early for most retail forex traders but could be useful for individuals who are looking at a longer term view.

USDCAD quarterly chart mid-2002 to present

USDCAD quarterly chart mid-2002 to present

 

The next Bank of Canada interest rate announcement and press release will take place on Wednesday 06 September 2017.

Back to the chart, the current 2-year low is also a major resistance-turn-support level. Some kind of retracement until BOC interest rate day, followed by a battle to break or not to break that level depending on the prospects of further hikes.

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

1Shares
Loading Facebook Comments ...

Leave a Reply