Possible Setup for the CAD
Updated
Today the BoC (Bank of Canada) will determine its overnight rate.
Expecting no change to the rate, hence we should expect a rising CAD against the USD
We may see a long setup by the
USDCAD.
Note that it is important to look at the lower time frame and wait for consolidation.
For now this is the lower risk trade compared to the short trade.
In case thatUSDCAD breaks downward we will see a short setup. If that happens, we wait for the pullback
before entering into the trade.
Trade according to your own risk!
Expecting no change to the rate, hence we should expect a rising CAD against the USD
We may see a long setup by the
USDCAD.Note that it is important to look at the lower time frame and wait for consolidation.
For now this is the lower risk trade compared to the short trade.
In case that
USDCAD breaks downward we will see a short setup. If that happens, we wait for the pullbackbefore entering into the trade.
Trade according to your own risk!
Trade closed: target reached
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