USDCAD short call | 14 April 2020
Hey we are on USDCAD today, requested by manjahi.
USDCAD is on bearish trend due to USD weakening. Fundamentally, USD liquidity crunch is largely eased after Fed announces $450 Billion dollar liquidity to 9 central Banks . Remember that price tend to have large volatility ahead of important events including central bank meeting, so it is good practice to close your position before tomorrow's BOC rate meeting.
Our entry: 1.39784
sl: 1.40752
tp: 1.36058
USDCAD is on bearish trend due to USD weakening. Fundamentally, USD liquidity crunch is largely eased after Fed announces $450 Billion dollar liquidity to 9 central Banks . Remember that price tend to have large volatility ahead of important events including central bank meeting, so it is good practice to close your position before tomorrow's BOC rate meeting.
Our entry: 1.39784
sl: 1.40752
tp: 1.36058
Trade closed manually
Hey as we explained in the video, we should close our position before yesterday's BoC meeting. CAD weakened after BoC keeps it open to purchase more assets. It is always a good practice to avoid big events like central bank meeting.
Follow and Trade this analysis from your Charts. FXCM now Integrated with TradingView. Contact FXCM for more information.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Follow and Trade this analysis from your Charts. FXCM now Integrated with TradingView. Contact FXCM for more information.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.