USDCAD analysis. Important news!
Today Bank of Canada will publish their interest rate decision.
We don't expect any changes, but there will be moves in the market! Last time in April,
the interest rate remained unchanged, however there was a 150 pips move in the first hour!
That's why we should expect moves today.
USDCAD is currently trading sideways, which is very likely to end today.
Entry options:
Conservative - wait for the news to come out and once you see a clear breakout, then get involved in the direction of the breakout.
Agressive - look for an entry before the news on a lower timeframe. Proper risk management and using stop loss is mandatory!
Most probably we will see a downside continuation.
Good luck!
We don't expect any changes, but there will be moves in the market! Last time in April,
the interest rate remained unchanged, however there was a 150 pips move in the first hour!
That's why we should expect moves today.
USDCAD is currently trading sideways, which is very likely to end today.
Entry options:
Conservative - wait for the news to come out and once you see a clear breakout, then get involved in the direction of the breakout.
Agressive - look for an entry before the news on a lower timeframe. Proper risk management and using stop loss is mandatory!
Most probably we will see a downside continuation.
Good luck!
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💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
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