Good morning traders! Today we have the Bank of Canada monetary policy report and rate statement later in the day, so take care trading CAD today. We'll look at the sentiment lower in this post.
So what else is happening besides the BOC mayhem?
- Coinbase tries to clarify things on BTC and Segwit2X and i'm not sure they succeeded properly
This is the post on Oct. 24:
Source
And this is the post on Oct. 25:
Source
Take away what you want from it :)
What else? Oh yeah, if you see a man flying around with balloons, don't be alarmed, it's just a dude named Tom Morgan. Via cbsnews
So, about CAD now. Let's take a look at two sentiment indicators
The one from FXCM shows traders as bullish and we should be ready for a downside surprise movement in the price
But now we look at the sentiment from Admiral Markets, who (afaik) sources their sentiment from FXBlue. This shows the opposite. No clarity there.
Looking at the chart - no clear picture here either. We are almost at the shortterm target - the 38% fib retracement. Some lvls marked on the upside, on the lower side a restest of the breakout would be nice.
Conclusion for me - caution, i have no edge. Try to trade levels and not get caught with your pants down. Wait for the first dust to settle.
If you have thoughts of your own or other cad pairs to share, please do.
Alright everyone, thats it. Trade safe out here!
Title image from pixabay
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