USDCAD Technical Analysis 2015, 05.04 - 12.04: Ranging or Reversal? - Trend Trading - General - MQL5 programming forum

Sergey Golubev 2015.04.09 14:13 #11

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newdigital, 2015.04.09 16:12

USDCAD range break looming? (based on dailyfx article)

The USD/CAD range continues. The exchange rate teased the market again yesterday as a break of the 1.2830-1.2350 range looked all but inevitable following the move below the trendline connecting the February lows around 1.2435. It clearly was not meant to be, however, as the pair reversed sharply from just above the February lows to trade back towards the middle of the range this morning. Our view on the rate remains generally the same as last week. The wide range reversal on some of the highest volume in years after the FOMC last month is a clear potential negative, but until or unless we convincingly break the range lows at 1.2350 there is really little reason to read too much into this situation and waste precious mental capital. A daily settlement over 1.2830 would obviously turn the outlook much more positive.

Press review EURUSD Technical Analysis 2014, Something Interesting in Financial

Sergey Golubev 2015.04.10 06:09 #12

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Something Interesting in Financial Video April 2015

newdigital, 2015.04.10 08:03

Multi-Month Consolidation Holds Ahead of Key Data (based on forexminute article)

USDCAD is squaring up within a multi-month consolidation range as we approach key fundamental data, especially Friday's Canadian employment data.

Press review Something Interesting in Financial Something Interesting in Financial

Sergey Golubev 2015.04.10 06:33 #13

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Press review

newdigital, 2015.04.10 08:31

2015-04-10 02:30 GMT (or 04:30 MQ MT5 time) | [CNY - CPI]

past data is 1.4%
forecast data is 1.3%
actual data is 1.4% according to the latest press release

if actual > forecast (or previous data) = good for currency (for CNY in our case)

[CNY - CPI] = Change in the price of goods and services purchased by consumers. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to respond by raising interest rates.

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China CPI steadies, but sends mixed signals

“China kicked off economic reports for the month of March in decent fashion, as CPI held steady at 1.4% beating consensus by a decimal and PPI declines stopped accelerating for the first time in 8 months.”

“Sequentially, CPI fell 0.5% after rising 1.2% in Feb, but YTD CPI edged up to 1.2% from 1.1%. Non-food component was unchanged at 0.9%.”

“Analysts are split on the implications of the latest inflation data - some see the report as beginning of stabilization that would diminish the need for PBoC to ease aggressively, while others do not see the release sufficiently significant to alter the increasingly more regular easing path.”

“Investors will monitor lending, M2 money supply, and Trade figures expected over the next few trading sessions.”

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USDCAD, M5, 2015.04.10

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USDCAD M5: 11 pips price movement by CNY - CPI news event

USDCAD, M5, 2015.04.10, MetaQuotes Software Corp., MetaTrader 5, Demo