USDCAD - Sell Bias For The Rest of 2017!

FX:USDCAD   US-Dollar / Kanadischer Dollar
And we get the second major central bank rate hike in 2017!

The Bank of Canada raised interest rates from 0.50% to 0.75% during yesterday BOC Rate Statement, hiking rates for the first time in seven years!

"Governing Council judges that the current outlook warrants today's withdrawal of some of the monetary policy stimulus in the economy. Future adjustments to the target for the overnight rate will be guided by incoming data as they inform the Bank's inflation outlook, keeping in mind continued uncertainty and financial system vulnerabilities."

With yesterday rate hike, it more or less confirmed our bias on USDCAD for the remaining of 2017. We will remain bearish bias on this pair for the year!

That said, it doesn't mean we are shorting it right away, but for every retracement and correction to the upside, we will be seeing it as an opportunity to go for a short trade.

Looking at how price has developed since May 2017, a decent retracement to 1.2886 will present a good shorting opportunity. Shared with our traders on this, the impulse moves down for USDCAD can be quick and strong; and more importantly, it presents us with a very good chance to scale in for this pair.

*Again, this is not a trade call. Make sure you have a proper plan to engage the market and scale in accordingly.
is your bias still short on this pair?
+1 Antworten
akyong FX4trade
@FX4trade, yes
DE Deutsch
EN English
EN English (UK)
EN English (IN)
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
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden