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World Stock Markets Trading Discussion - Jittery jiggling


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w?s=%5EAORD

 

All Ords moved freely down to close -0.7%.  Only three sectors finished up, Miners +1.1%, Energy +1% and Materials +0.7% with IT down the most, -1.7%.

A roller coaster in Asia: China -1.2%, Hong Kong +0.2%, India and Nikkei -0.2%.

 

 

On to UK/Europe:

 

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image;size=239x110


image;size=239x110

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Bank of Canada did leave rates on hold and also won't cut anymore it seems, which did caught some market participants on the wrong foot.

 

Give that and given that the low in Oil is in, there will be most likely only one way for USD/CAD: Down. That means the Canadian Dollar will get stronger. Look at the daily USD/CAD chart, looking topish, once 1.2350/1.2400 breaks to the downside the top is confirmed. Also have a look at the weekly chart how many weeks and how often price tried to make new high, but failed. It pretty much looks like the topping process in 2008/2009.

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Bank of Canada did leave rates on hold and also won't cut anymore it seems, which did caught some market participants on the wrong foot.

 

Give that and given that the low in Oil is in, there will be most likely only one way for USD/CAD: Down. That means the Canadian Dollar will get stronger. Look at the daily USD/CAD chart, looking topish, once 1.2350/1.2400 breaks to the downside the top is confirmed. Also have a look at the weekly chart how many weeks and how often price tried to make new high, but failed. It pretty much looks like the topping process in 2008/2009.

 

Demand has been skyrocketing on the lower prices. US consumption way up. 

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