The Canadian dollar slumps in recent trading, pushing the currency back into negative territory for the day against the US dollar. Some analysts speculate the loonie will become sensitive to a possible election being called in Quebec, which is currently governed by the separatist Parti Quebecois. But for now, Velocity Trade's Jasmin Valade attributes the moves to flow-driven trading ahead the Bank of Canada policy announcement Wednesday. The central bank is expected to maintain its dovish stance.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
No comments:
Post a Comment