June 5, 2012
The Bank of Canada (BOC) will announce their rate decision today at 9:00am
sharp.
Here´s what analysts expect:
9:00am (NY Time) CA BOC Rate Decision Forecast 1.00% Previous 1.00%
DEVIATION: 0.25% (BUYCAD 1.25% / SELL CAD 0.75%)
Definition:Bank of Canada sets a target bandwidth for the overnight rate each month of +/- 0.25% around its target overnight rate: the Bank of Canada does not interfere in the overnight market so long as the overnight rate stays within its target band, but the Bank will use its reserves to lend or borrow in the overnight market to ensure that the overnight rate stays within its announced bandwidth.
The Trade Plan
Most analyst agree that the BOC will hold rates at 1.00%. I´ll be trading this release with a 0.25% deviation using Spike Trading method. In the event of a surprise hike it´s almost guaranteed that we´ll see strong market movement immediately after the release.
Currency pairs USDCAD, EURCAD , GBPNZD
Here´s what analysts expect:
9:00am (NY Time) CA BOC Rate Decision Forecast 1.00% Previous 1.00%
DEVIATION: 0.25% (BUYCAD 1.25% / SELL CAD 0.75%)
Definition:Bank of Canada sets a target bandwidth for the overnight rate each month of +/- 0.25% around its target overnight rate: the Bank of Canada does not interfere in the overnight market so long as the overnight rate stays within its target band, but the Bank will use its reserves to lend or borrow in the overnight market to ensure that the overnight rate stays within its announced bandwidth.
The Trade Plan
Most analyst agree that the BOC will hold rates at 1.00%. I´ll be trading this release with a 0.25% deviation using Spike Trading method. In the event of a surprise hike it´s almost guaranteed that we´ll see strong market movement immediately after the release.
Currency pairs USDCAD, EURCAD , GBPNZD
RESISTANCES : Weekly 1,048 - Daily 1,0445 - Hourly 1,041
SUPPORTS : Weekly 1,026 - Daily 1,032 - Hourly 1,0365
BOOKS
Your Guide To Making Money in Forex Trading: A General Idea Of Trading The Forex Plus Crucial Investing Tips On Currency Exchange Rates, Finding The ... Succeed And Make Money Fast In Forex Trading - Sandra V. Uy - EUR 12,36
ACH15® Discovery: always 100% won transactions in FOREX market! - florin iacob - EUR 115,34
Getting Started in Forex Trading Strategies - Michael Duane Archer - EUR 13,49
SUPPORTS : Weekly 1,026 - Daily 1,032 - Hourly 1,0365
BOOKS
Your Guide To Making Money in Forex Trading: A General Idea Of Trading The Forex Plus Crucial Investing Tips On Currency Exchange Rates, Finding The ... Succeed And Make Money Fast In Forex Trading - Sandra V. Uy - EUR 12,36
ACH15® Discovery: always 100% won transactions in FOREX market! - florin iacob - EUR 115,34
Getting Started in Forex Trading Strategies - Michael Duane Archer - EUR 13,49
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