Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades mostly the Asian Market.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

 

Overview

Today’s Canadian CPI release comes right on the heels of the ECB’s ‘doom and gloom zero growth’ scenario for EUR. All we need is strong CPI data in Canada and that will put Europe and Canada on different interest rate paths and that’s the perfect recipe for a big move in the cross.

Current Technicals: Neutral – Sideways

Daily Support: 1.4955

38.2% Fibonacci: 1.4953

USDCAD DAILY CHART – Current Price 1.4979

Current Fundamentals: EUR Down, CAD Sideways

Central Bank Sentiment: Down

Geopolitical Impact: Down

Upcoming Potential Fundamental Drivers

Trade Execution

Our Preference

Short positions below 1.4950 with the 1st target at 1.4583 & 2nd target at 1.4213.

Alternative Scenario

If CPI data comes in <2.0% Y/Y the order is canceled.

Execution Software

If trading the technical levels: Trendline Trader

If trading live: T-Rex Live Trader or Guerrilla Trader

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