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USD/CAD Signal - CAD Interest Rate Decision - 15 Jul 2020

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Signal Details
Entry Price: 
1.36
Take Profit: 
1.3555
Stop Loss: 
1.3625
Direction: 
Sell
Result: 
Profit
How we trade
Average: 5 (4 votes)

USD/CAD is trading around 1.356 today prior to the Bank Of Canada's interest rate decision. Typically an increase in rates is bullish for the CAD and decrease or an unchanged rate is bearish for the CAD. We anticipate further downside on USDCAD today prior to the news release. Technically the pair has found resistance at the 1.3625 level. We anticipate downside into 1.3555.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.