BloomFisher
Long

USDCAD HOLDS STRONG AHEAD OF BOC - Interest Rate Decision!

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hey Everyone,
All eyes are on the Bank of Canada, which holds its monthly rate meeting on Today. Economists are expecting that policymakers (Bank) will raise it's Interest rates by a quarter-point to 1.50%, which is quit high as 2.0% seems to be the upholding limits also, this level has not yet seen since December 2008.
however BoC             Governor Stephen Poloz has stated that this time rate decision would be based on economic data where this CAD recently gained in Friday’s strong employment data

whereas our expectations remains below 1.50% on a sentiment level as there are no such article or report found/published by CAD Government
which complies to the providence of economic growth (yes, the growth has been made 31.8 thousand jobs in June, well above the estimate of 22.3 thousand but the numbers are not drastically good to cross or render 1.50%)
which makes a conclusion of Bearish CAD but only by a chance of 52%
as estimates are close to conclusion

*NOTE - Trading only Fundamental aspects of a market contains higher risks, more volatility and these analogy should put in consideration rather a
dependency

GOODLUCK
Trade active: BOC Raises BENCHMARK OVERNIGHT RATE to 1.50%
Not what we were expecting however it didn't got to cross 1.50%
which could eventually strengthen the CAD in a Bizarre way
any how here are some possibilities
If it breaks down the trendline it will melt
otherwise analogy remains the same
Trendline as support!
Trade active: USDCAD - Running with (+80 PIPS) of Profit!
JOIN: https://t.me/bloomfx
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for B2B - complex@bloomfisher.com
Hi sir, is this trade still active?
Reply
I'm short on this position according to daily pattern... What is the maximum that this could go ? break previous top and reverse ?
Reply
@dakkid, Would recommend closing it 70 PIPS from the entry point let it get back there first and yes daily chart Indicates shorting position but not that strong!
Reply
Very good analysis, thank you, may I ask a list like this, how to set the stop loss position?
+1 Reply
@RockeyGu, It should be not more then 50 PIPS however in this particular trade no Stop loss was marked!
Reply
RockeyGu BloomFisher
@BloomFisher,
Then this order, if we set the stop loss position 50pip, it is stop loss, if you do not indicate the stop loss, we make a single, it is best not to set a stop loss? Thank you
Reply
RockeyGu BloomFisher
@BloomFisher, Your analysis is very good, so we hope that every analysis you make will be our transaction.
Reply
@RockeyGu, Yes, but always check our description box and if it's mentioned that it's risky then adjust it with your management!
Reply
RockeyGu BloomFisher
@BloomFisher,
Ok, thank you very much, you are very responsible.
+1 Reply
Nice
+1 Reply
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