jolicoeur342
Short

USDCAD - SELL THE BREAKOUT

FX:USDCAD   U.S. Dollar / Canadian Dollar
704 2 12
Important part in this trade is to wait the BO !!!
Comment: Trade is active!
No.shorts..rate hike is coming. Look Long. Look at the mthly chart and see where the last rate hike was year 2015 USD CAD is acting very bullish in pass three 3 days.
Reply
ACStocks SonyBee
@SonyBee - Rate hike is still 2 meetings away. It is extremely unlikely that the fed hikes rates a week before the election, and because speculation over a December rate hike is so high right now, even the slightest bit of dovishness in their statement could send this pair down real fast. CAD GDP is also out early next week and a surprise to the upside will send the pair down quite quickly as well. And with U.S. election in focus right now, this actually is not a bad idea to consider in the near term.

Now is probably not the best time to enter long this pair, daily charts are also looking like we may be at a temporary top (have a look at the days leading up to the May 2nd low on this pair and compare). If you don't feel comfortable shorting this pair in the coming days then you might want to play a bit of wait and see over the next week or so and look for more profitable opportunities to enter long again as this pair will almost certainly take a turn back up heading into end of November / early December.

Of course, I could be completely wrong about all of this, so use your own judgement and best of luck. Happy trading :)
+5 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out