The USD/CAD is trading near important mid-term lows as speculators brace for the Bank of Canada to release the Overnight Rate today which will lead to volatility. The USD/CAD is traversing near the 1.33600 ratios as it hovers close to critical mid-term lows. The Bank of Canada will issue its Monetary Policy Report today and the central bank’s outlook will certainly cause a storm in the USD/CAD. USD/CAD January’s Bearish Trend has brought November 2022 Values into SightOn the 13 th of January, the USD/CAD was trading near the 1.33200 mark briefly. The Bank of Canada will likely mirror the U.S. Federal Reserve’s policy, warning about inflation while saying it is monitoring growth.
My previous EUR/USD signal on 21st December was not triggered, as none of the key levels were reached that day. Short Trade IdeaShort entry following a bearish price action reversal on the H1 timeframe immediately upon the next touch of $1.0692 or $1.0760. Put the stop loss 1 pip above the local swing high. Long Trade IdeasLong entry following a bullish price action reversal on the H1 timeframe immediately upon the next touch of $1.0632, $1.0602, or $1.0575. You can exploit these levels or zones by watching the price action that occurs at the given levels.1 month ago DailyForex
The British Pound rose against most of the major currencies after former Prime Minister Boris Johnson withdrew from the race for the Prime Minister position, leaving former Chancellor Rishi Sunak on his way to the coronation. The GBP/USD got off to a strong start this week, but its recovery faltered after former chancellor Rishi Sunak was confirmed as the next prime minister-in-waiting after the Conservative Party leadership election. This will have major ramifications for the pound and the UK economy in the coming months. However, the Pound's early gains quickly faded after newly chosen Prime Minister Rishi Sunak warned of tough times ahead for the economy and tough fiscal decisions in an address to Parliament. "Rishi Sunak will take the keys to 10 Downing Street today.3 months ago DailyForex
It jumped to the resistance level 131.40, rebounding from the support level 129.50, and settling around the level of 130.80 at the time of writing the analysis. The currency rose by 0.6% against both the Canadian dollar and the Norwegian krone, and by 0.4% against the Australian dollar. This divergence helped push the Japanese currency down nearly 25% by the time it reached its lowest level last year. Dollar expectations against the Japanese yen today:There is no doubt that yesterday's losses for the USD/JPY currency pair moved the technical indicators towards oversold levels. I have recommended buying the USD/JPY from every downside level, yesterday's rebound came to confirm that.1 month ago DailyForex
The recent stability of the exchange rate of the US dollar against the Japanese yen USD/JPY is generally expected. The price of the dollar currency pair against the Japanese yen USD/JPY is stable around the level of 132.50 at the time of writing the analysis, awaiting the most important market event for this week. Markets and investors will be looking forward to the release of US inflation data on Thursday to boost the tone for risk appetite. Dollar expectations against the Japanese yen today:Cautious stability still dominates the performance of the USD/JPY currency pair. Bears are in the trend, and whatever the results of the US inflation numbers today, I still prefer buying the currency pair from every downward level.27 days ago DailyForex