USDCAD: possible long scenario
The world is in interest rate cut mode.
Yesterday FED cut the interest rate from 1,75% to 1,25%, while RBA from 0,75% to 0,5%.
The market should price interest rate cut from Bank of Canada (BoC) as well, which will be announeced today.
This might be bullish for USDCAD, so joining from 1.3335 price level with S/L around 1.326 and 1.3523 T/P provides decent opportunity.
Proper position size should be applied based on risk management strategy.
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Yesterday FED cut the interest rate from 1,75% to 1,25%, while RBA from 0,75% to 0,5%.
The market should price interest rate cut from Bank of Canada (BoC) as well, which will be announeced today.
This might be bullish for USDCAD, so joining from 1.3335 price level with S/L around 1.326 and 1.3523 T/P provides decent opportunity.
Proper position size should be applied based on risk management strategy.
//
Feel free to share your opinion/position via comment and follow me to stay updated.
Trade closed: target reached:
Position closed at 1.3589, above target as the market opened with gap due to pressure around oil price.