Candlestick patterns come in many forms and they have the power to turn market direction. They are usually made up of two or three candlesticks but always require confirmations if they are to be used in a trade. Candlestick patterns allow us to get into a trade early but this can only be achieved if the correct analysis is utilised. Never simply rely on the candlesticks themselves because they can provide a fake picture of the current market situation. Below is a list of candlestick patterns you are required to know, so ensure that you watch all the Forex training videos.
Updates to Canada’s Consumer Price Index (CPI) may curb the recent advance in USD/CAD should the data print boost bets for an imminent Bank of Canada (BoC) rate-hike.
The British Pound is bouncing and the US Dollar is pulling back after an unexpected hawkish tilt at this morning's Bank of England rate decision. With odds for an August hike firming, might the pair be able to test back to the 1.3500 area?
Odds of a 25-bps tightening move in August have increased from 48% yesterday to 68% today, per overnight index swaps.