We're back in what has been a pretty predictable range since mid-April. We're now back at a support level that has proven rather strong.
Even though Sunday's candle can be scary and this may look like a downtrend, there's been multiple attempts to reject the downtrend.
Fundamentally, the CAD has been weak due to negative reports but one positive note is Canada can't keep the interest low much longer. Strong economic progress will force Poloz's hand and an increase in interest rate might occur over the summer regardless of uncertainties. I write this here but I doubt his decision will affect this trade much. It's good to keep track of this for a pair such as the USDCAD.
Entry: 84.20
SL: 83.70
TP: 85.70
Even though Sunday's candle can be scary and this may look like a downtrend, there's been multiple attempts to reject the downtrend.
Fundamentally, the CAD has been weak due to negative reports but one positive note is Canada can't keep the interest low much longer. Strong economic progress will force Poloz's hand and an increase in interest rate might occur over the summer regardless of uncertainties. I write this here but I doubt his decision will affect this trade much. It's good to keep track of this for a pair such as the USDCAD.
Entry: 84.20
SL: 83.70
TP: 85.70
Giao dịch được đóng thủ công
Position was filled pretty fast and price never picked up. Seeing as how this pair seemed to have a strong bearish sentiment, I decided it was best to cut my loss and close before reaching SL.Invalid idea.
Ghi chú
So it eventually did bounce. Unfortunately it went much lower than anticipated.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.