When our automated news bots got BOC Governer comments on oil price, USDCAD gone down more than 150+ Pips after couple of hour.Poloz Said "Oil price drop alone would have required 100 bps rate cut and Economic restart should occur before 3rd quarter" that's was good news for CAD pair. Also in Previous Interest rate decision, BOC not easing their policy much.
Let's see our analysis chart..
Technically Today USDCAD was high 1.41872 then after this comment it's down 150+ Pips. Also 4h Technical view it was bearish because of it's broken Market Structure fully from previous chart. If all going right way, USDCAD can touch 1.3730 then for longer time it can fill up it's gap 1.3500. Labels: Educational Tutorials