{quote} you must be really brilliant 10 minutes before avalanche of data to provide technical graph
{quote} I'm not brilliant, but i do like to share the charts before data with probable levels.
{quote} Good job Fx_Anil, you always give good levels. Keep it up. Technically I do understand this correction but what do you perceive fundamentals behind these lower levels. I do see that CAD can be affected by Oil prices but oil has been coming down from its peak levels, still the situation in Middle East is volatile. Also I have seen some people try to correlate good numbers out of China with Aud, Nzd, and Cad to a lesser extent. Few months back with such a good number out of NFP and the pair would have shot at least 80-100 pips but yesterday...
{quote} good question. until today i have big question mark in my head why this pair keeps heading south with such US's good numbers...
{quote} I appreciate your research workingforex, Good points you've raise. I would just like to add one additional point that having witnessed the change in the tone of Bank of Canada (from Dovish to neutral), market players are more likely to speculate an interest rate hike (which is well supported by the Canadian Inflation numbers). Hence, the Canadian Dollar in addition to being fundamental firm, keep rising on speculative basis that the BoC will soon hike the interest rate to help export oriented nation.
{quote} That would be on July 16th. Dang...still have 1 long @1.69xx
{quote} I agree with your argument, but what i said is, the current move seems speculative on the basis of fundamental strength. Should the BoC generates a strong denial to interest hike, there would be a bloodbath in prices as the economy is export oriented and the higher CAD would affect their main income source.
{quote} Yes exactly that is what I was coming to. Sometimes it is difficult to look at the bigger picture. Good to know your view point. I will try to post something more about the BoC with regard to these when I come across. Trade safe! Well done mate!
