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CAD, GBP Ahead of Central Bank Announcements

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International woman’s day is right around the corner and we have special gift for all the women out there on March 8th, so stay tuned for them! Other than that, we have a big week ahead with central bank rate announcements that could shake up the forex dance floor a bit. From New York City, my name is Kiana Danial with Invest Diva, and this is your forex trading analysis for the week as a bunch of currency pairs dance the week away on the forex dance floor.



USD/CAD Looking Forward to Wednesday

USD/CAD continues its consolidation inside a triangle while remaining above the Ichimoku cloud. With Canada’s GDP on Tuesday and central bank statement on Wednesday, we could finally expect a confirmation above or below the triangle pattern on the daily dance floor, which could indicate the fate of the pair in a long run.



GBP/USD Retracing

Comparing to other major central banks,   Bank of England is one of the more optimistic ones out there and their upcoming policy statement on Thursday might reaffirm their hawkish tone, which in turn could help Mr. British Pound get back up towards the 23% Fibonacci level at 1.55. Right now though the pair is retracing from this key level and moving inside the Ichimoku cloud, and we have set bearish target at 1.52, but in case of a break above our pivot level, our outlook will change back to bullish with 1.5820 as first alternative target.



Now I want to hear from you. Which central bank rate announcement do you think will move the markets the most? Come on over to our social media and let me know. As always,  If you liked this video, like it and share it with your friends. To get our latest updates subscribe and follow us on our social media.  Invest responsibly and don’t forget that only you can take care of your money the way it needs to be taken care of, so get yourself educated.


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