top of page
Search

USD/CAD | Sep 19, 2019

Updated: Sep 20, 2019

"If market is still under influence of BOC statement and Fed's rate cut probability, 1.3339 should not be broken. If H1 candle closes above 1.3339, the bearish setup will fail, 1.3339 was high of spike before BOC statement," I wrote in previous analysis of USD/CAD.


H1 candle didn't close above 1.3339 yet but influence of BOC and Fed rate-cut already seems to have faded. USD/CAD opened way lower than closing price of Friday and gave us chance to set SL to BE in sell trade but later it went up, filled gap and has made a channel. FOMC press conference didn't move USD/CAD lower. That's why we now believe that influence of BOC and Fed rate-cut has faded.

Therefore, we buy now to trade this channel. Target is upper border of channel.

Risk: it fails if price breaks below previous swing low.



 
 
 

Recent Posts

See All
Gold (XAU/USD) trading plan

Return from psychological level of 3000 may give us a trading opportunity in Gold. Buyers may be taking profit and getting out, which may...

 
 
 

Comments


  • Facebook Social Icon
  • Youtube

© 2010-25 by KeonConsultancy.com

 

 

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

 

Past performance is no guarantee of future results. Your capital is at risk in Forex & CFD trading.

bottom of page