USD/CAD: UpdateU.S. Dollar/Canadian Dollar drag the value in front of CAD. So, in the morning, I made an analysis in my iphone to entry in this short, what I'm in profit too with over 18 pips at the moment of this analsysis. So, i found out this trade marking the 0.618% fibonacci. I entry around $1.2838 CAD
In H4 timeframe, the trend come bearish, what I believe that I entry in the good point of this analysis shorting USD.
This it's my Daily analysis and I expect a drop to the key support of this bullish channel around $1.2650 CAD following this bad news for the Federal Reserv ethat hike interest rate to another 0.75% more, and the GDP fell to -0.9% and made contraction of the economy, more inflation coming for what the FED do.
I hope that this analysis support you. I learn that in based this fundamental news, we could to hope the big event how the U.S. Dollar will make their reaction in front of the financail market, becuase that affect and make impact for another Forex currencies, stocks and cryptocurrencies. Also, it's better to wait the result and then take decision in based the fundamental anaysis when we see a big event, and everyday read a lot and check out the economic calendar. This it's not only you will get a clue, but you will take a better decision to analyze the result and how the market will make their reaction. For that, I was in long in USD/JPY and in profit with over 53 pips, when USD fall and take me my SL. It's better when you trade before of the event, closed up the trades and wait to know their results, ever!!! And take a journal of your forex analysis to take appointment and notes of all event in the financial market and Forex.
I hope that thi reflection take an idea in the next event of Forex market.
