Forex Analysis Today (28 October 2021) - Bank of Canada Maintains Policy Rate. In this currency call, we discussed about the Bank Of Canada policy rate statements, Bank of Japan Press conference, and some trade ides on Jpy Pairs, DYX, and gold.
Time stamps:
Gim Hong's analysis of the Bank of Canada Interest Rate Decision from 04:39 to 20:20.
Scott's DXY analysis from 21:10 to 26.14.
Jin's JPY & Gold analysis from 26.15 to 34.37.
Currency call trade idea 28 10 2021:
UDJPY trade idea: USD weakness present selling below 113.45 as an entry using a 30 pip stop loss with up tp a 70 pip take profit. Be cautious as it's a counter trend trade.
GBPJPY still unclear and no medium term trading opportunities present, will need to see the GBPUSD make a move higher or lower where it's currently trading at near the 1.37520 resistance level.
EURJPY 131.74 level being tested, selling opportunities at 131.58 with a 40 pip stop loss and a 100 pip take profit. Important to wait on the EURUSD to see if this 1.1600 and then 1.1580 can be broken for confirmation on EUR weakness.
Gold waiting for price to get back over 1805 or after a test of 1777 for buying opportunities.
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