USD/CAD will suffer a correction before Going Up Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Sep 21, 2021 9:54 PM

USD/CAD will suffer a correction before Going Up

💹USD/CAD ⏬SELL

✅TP-1# 1.28200
✅TP-2# 1.27400

FOMC preview
- FED Seeks to downplay rate
- FED Is not expected to announce any major policy change

My Forecast : This Pair Will fall because the conditions are not met to start tapering this year

After Settling at a 1.2896 high, this pair requires a pause before going up

References :

DBS Bank
However, technical indicators and seasonality studies hint the pair may need a corrective decline before it finds fresh oxygen to challenge higher levels,
Benjamin Wong, Strategist at DBS Bank, reports
Link : fxstreet.com/news/usd-cad-to-suffer-a-correction-before-challeging-next-upside-destination-dbs-bank-202109210643?utm_source=tco&utm_medium=twitter&utm_campaign=fxstreetnews

FOMC FED - Yahoo
Link : finance.yahoo.com/news/fed-fomc-monetary-policy-preview-september-2021-084520716.html

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BE VERY Careful this is FOMC WEEK 21 -22 September. The movement can be huge. Prepare your stop loss if we are in the wrong direction.

Comments

jamdejam

⋅ Sep 22, 2021 12:11 AM

Correction : entry 1.28200 , TP1 1.27400, TP2 1.27250