☑️USDCAD: medium-term long
➡️ At the moment, in the medium term, the USDCAD currency pair is considered long. Globally, the price is in the range of 1.20000 - 1.45000 and has already rebounded from its lower border. Locally (on the chart) the price is clearly in the balance of 1.24697 - 1.25929 and the sellers are getting ready for another drop to the level of 1.24697 today. After that, the expected medium-term long will become a reality.
Considering the fundamental aspect, the market is increasingly betting that the Bank of Canada ( BoC ) will raise its key rate by 50 bp . at the next meeting. Expectations of a rate hike were likely caused by the publication on Monday of a survey of business prospects of the Bank of Canada. Also today, data on the labor market is expected to be released, which will also clarify fundamentally.
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👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
Considering the fundamental aspect, the market is increasingly betting that the Bank of Canada ( BoC ) will raise its key rate by 50 bp . at the next meeting. Expectations of a rate hike were likely caused by the publication on Monday of a survey of business prospects of the Bank of Canada. Also today, data on the labor market is expected to be released, which will also clarify fundamentally.
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👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
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