USDCAD - 2 bats preparing for different scenarios

FX:USDCAD   U.S. Dollar / Canadian Dollar
678 4 14
Less is more ... We have 2 potential bats setting up here on the hourly chart. We'll check if one will complete and which one it will be ... but we are prepared for both directions :)
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Nice ! I remember that your last bat was spot on. Can I ask you how you are anticipating the BOC speech... New rate cut or no new rate cut ? And also do you think that it could break the chanel ?
+1 Reply
Nico.Muselle pascalde-aguiar
As I am not really trading channels, or fundamentals, I just watch price action and base my trades upon them. When I say I do not trade fundamentals I mean that I do not try to anticipate them, apart from the fact that I will not enter a trade close to an important news release. BoC is known to surprise us, but given the slightly positive economic numbers we heard last weak, I do not expect a further rate cut. (But I might me completely wrong about that)
+1 Reply
pascalde-aguiar Nico.Muselle
Thank you for your anwser ! It's true the governor didn't say a word about it and almost hinted that they wouldn't do another cut right now. That being said it seems like they want to keep it blurry right now, just like the Feds about the interest Hike. Can't wait to see what's going to happen.
+1 Reply
Nico.Muselle pascalde-aguiar
Exactly ... the BoC is always in for a surprise so we'll just have to wait and see whatever kind of mood they are in :D
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