CXY trade ideas
Canadian slowly weakeningActually, candle pattern confirming UP still very very strong. Only 3h and 1h chart showing pin as bear signal.
But it possibly weakening slowly too...
Watch CAD For Strength On Triangle BreakoutWatch the Canadian dollar for strength if it breaks out of a triangle pattern on the Canadian Dollar Index chart (index against EUR, USD, GBP, AUD, CHF, JPY).
The Canadian dollar index has outperformed the Australian dollar and New Zealand dollar indexes over the last 1, 2, and 3 (shown) years.
On the flip side, a downside breakout of the triangle would indicate further weakness in the Canadian dollar, and likely in the AUD and NZD too since they tend to be positively correlated.
On a shorter-term basis, since about September the AUD has been stronger the CAD.
Time to go down... Will be continuing upmove sometime within NEXT Week: Weekly and monthly Canadian Dollars are still strong. Just a matter of retracement (downmove)....
Canadian Dollar potential down movePotentially moving down For some time only.... Major movements currently are still very strong UP
Check #CXY before #BOC Interest Rate Decision in Dec 4thCheck this chart before tomorrow's meeting with the Bank of Canada
Don't forget mate, that history repeats itself
good luck.
CXY- Canadian dollar Technical Analysis for WC 28-10-2019The Canadian dollar had a great run in last week's trading session, picking up the momentum from the previous week run. The Index still looks strong to continue to the upside. A break out above 76.6 could provide another leg to its next target at 76.8. Support is at 76.4 and 76.1
