Maintain in trend zone, waitingfor decisions from 2 central bank

Jul 30

🔔🔔🔔USD/CAD news:

➡️ The USD/CAD pair is trading sideways around the 1.3770 level during early Asian hours on Wednesday. Market participants may adopt a more cautious later stance in the day as they await upcoming interest rate decisions from both the Bank of Canada (BoC) and the U.S. Federal Reserve (Fed).

➡️ The Fed is widely expected to keep its benchmark interest rate unchanged at 4.25–4.5%, the same level maintained since December.

➡️ As for the Canadian dollar, economists anticipate that the BoC will hold its policy rate steady at 2.75% during its July meeting on Wednesday, marking a third consecutive pause. The Bank of Canada has noted that its decisions will be "less forward-guided" due to the "multiple layers of uncertainty" tied to the ongoing trade conflict.

Personal opinion:
➡️ USD/CAD will remain in the trend zone and wait for economic data and interest rates from the two central banks.

➡️ Analysis based on support resistance levels and trend lines combined with SMA to come up with a suitable strategy

Personal Plan:
🔆Price Zone Setup:

👉Buy USD/CAD 1.3745 - 1.3735
❌SL:1.3700 | ✅TP: 1.3795

FM wishes you a successful trading day 💰💰💰

Jul 30

Trade active

Buying pressure is too strong

Touched 1.3762 and rose to 1.3820. Didn't match the 1.3745 buy zone. It's a pity to miss out on 60 pips of profit.

However, the price reached the target as defined.

Jul 31

Trade closed: target reached

completa the original plan