CXY trade ideas
TOLD YOU SO!EXPECTING A BOUNCE HERE, BUT THE TREND IS MASSIVELY BEARISH!
THE CANADIAN LOONIE IS THE WEAKEST CURRENCY IN THE WESTERN WORLD, EVEN WORSE THAN THE AUD (IT MAY NOT SEEM IT YET, BUT JUST WAIT!)
THERE IS A GOOD CHANCE GEORGE SOROS IS BETTING ON A CURRENCY CRISIS HERE JUST LIKE ENGLAND IN THE 1970s!
CXY/XXXCAD/M/Big Uptrend to unlock when??Observations
+Oil rinse and clean soon.
Remarks
Though CAD cuts rates due to global slowdown due to COVID 19 some serious recovery soon thinkable and unavoidable
When is the question to be asked now??
As of writing
USDCAD
EURCAD
GBPCAD
CADJPY
CADCHF (Bit beware of CHF may be a different story)
AUDCAD
NZDCAD
CAD RSI is in bearish breakout www.macleans.ca
Today Canadian households are carrying more than $2.9 trillion in consumer and mortgage debt, nearly double their debt load before the Great Recession hit, which makes every cut that much more powerful.
LOONIE SHOWING EXTREME WEAKNESS!BANK OF CANADA DIRECTLY MONETIZING FEDERAL DEBT FOR A DECADE!
NEGATIVE REAL ECONOMIC GROWTH!
NEARLY UNPARALLELED DEMOGRAPHIC PROBLEMS!
HOT TAKE: CANADA IS THE NEXT VENEZUELA!
Candian Index AnalysisWe are expecting one the 2 secnairos will happen, according to the next moves.
Canadian Dollar Index At channel supportCanadian Dollar Index At channel support
Lets see close price action
and be ready for USDCAD down
Canadian Dollar Index (Direct relationship with oil) .The Canadian Dollar Index and its correlation with oil because it follows the Canadian either in the fall or the rise currently the Canadian Index is in a downward direction and is now moving in a symmetrical triangle on the weekly from 2011 to now and he is making a correction in a smaller symmetrical triangle and he is inside the triangle now so any deals are currently short The range and we are watching the symmetrical triangle fracture and breaking the level of 73 because without breaking this level , it will return to the second trading within it. If the fracture is confirmed, it is to descend to these levels shown on the chart below, which is the closest view to the Canadian Dollar Index. we also have the largest symmetrical triangle fracture on the weekly, and then the rise to these high levels shown on the chart. (Good luck dear traders)
CAD getting strong - Daily OBV for the yearLooking for that break above the red ribbons.
200 MA broke
33 MA above
Currently pinching for direction on daily but long term looks like up via technical data.
