Hi, folks. We are having quite a lot of important releases this week. Today is very significant, because Bank of Canada will announce its' interest rate decision. As you may see most of Canadian dollar pairs have been in pretty ugly ranges. Some tried to make new highs: such as usd/cad and gbp/cad, but failed. I guess today will be the day when the loonie will collapse. Of course, this is just my speculation, but do not forget that interest rate decisions are the most important fundamental events in Forex market. So, be sure to watch what happens at 14.00 GMT today.
I am also expecting Euro to go down against US dollar and finally breach 1.2800 level and then go to last year low of around 1.2000. It may take some time. Friday may be key for Euro as we have Euro zone consumer price index coming out. That should send eur/usd and eur/gbp to their lows. I am already short eur/gbp and if Friday sees a breakout lower I will add to my position in the pair and likewise in Euro dollar short. Ok, enough for today. Hope to update my blog soon.
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