CADJPY strong fundamental breaking the Ichimoku cloud!
Interest rate from the Bank of Canada has just been confirmed at 1.75%.
With the Federal Reserve (USD) aiming to keep interest rate in a range of 1.50 and 1.75% (with the decision on the 11th of December), BoE (GBP) expecting to confirm a 0.75% interest rate (decision on the 19th of December), ECB (EUR) at 0% with a good chance to go negative in 2020 (next decision on the 12th of December ). Considering also Japan and Switzerland in negative territory (-0.10% and -0.75%), the decision to keep the interest rate at 1.75% could be read as a positive news for the CAD.
The price got a very strong momentum, breaking the Ichimoku cloud and going above last important swing high.
I think we have more than one reason to enter this trade, so let's see how it goes!
With the Federal Reserve (USD) aiming to keep interest rate in a range of 1.50 and 1.75% (with the decision on the 11th of December), BoE (GBP) expecting to confirm a 0.75% interest rate (decision on the 19th of December), ECB (EUR) at 0% with a good chance to go negative in 2020 (next decision on the 12th of December ). Considering also Japan and Switzerland in negative territory (-0.10% and -0.75%), the decision to keep the interest rate at 1.75% could be read as a positive news for the CAD.
The price got a very strong momentum, breaking the Ichimoku cloud and going above last important swing high.
I think we have more than one reason to enter this trade, so let's see how it goes!
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