🔔🔔🔔USD/CAD news:
👉All eyes are on the Bank of Canada (BoC) this Wednesday, as markets widely anticipate another interest rate cut—the seventh consecutive one. This time, expectations are for a 25-basis-point reduction, mirroring the move made in January.
👉Meanwhile, the Canadian Dollar (CAD) has been weakening, retreating from last week's highs and approaching the 1.4500 mark against the US Dollar (USD).
👉Adding to the uncertainty, Canada’s inflation data is now under scrutiny. In February, the annual inflation rate, measured by the Consumer Price Index (CPI), inched up to 1.9% from the previous 1.8%. At the same time, the BoC’s core CPI rose for the second consecutive month, reaching 2.1% year-over-year, surpassing the central bank’s target.
Personal opinion:
👉The USD/CAD pair will still maintain an uptrend in the near future. The tariff policies between Canada and the United States have made the CAD, a riskier currency, suffer more damage.
👉The US 10-year bond yield and DXY rebounded, adding more pressure to the CAD
Analysis:
👉Based on important resistance - support levels combined with standard pivot points and EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy USD/CAD 1.4375 - 1.4390
❌SL: 1.4340 | ✅TP: 1.4440 - 1.4480 - 1.4520
FM wishes you a successful trading day 💰💰💰
👉All eyes are on the Bank of Canada (BoC) this Wednesday, as markets widely anticipate another interest rate cut—the seventh consecutive one. This time, expectations are for a 25-basis-point reduction, mirroring the move made in January.
👉Meanwhile, the Canadian Dollar (CAD) has been weakening, retreating from last week's highs and approaching the 1.4500 mark against the US Dollar (USD).
👉Adding to the uncertainty, Canada’s inflation data is now under scrutiny. In February, the annual inflation rate, measured by the Consumer Price Index (CPI), inched up to 1.9% from the previous 1.8%. At the same time, the BoC’s core CPI rose for the second consecutive month, reaching 2.1% year-over-year, surpassing the central bank’s target.
Personal opinion:
👉The USD/CAD pair will still maintain an uptrend in the near future. The tariff policies between Canada and the United States have made the CAD, a riskier currency, suffer more damage.
👉The US 10-year bond yield and DXY rebounded, adding more pressure to the CAD
Analysis:
👉Based on important resistance - support levels combined with standard pivot points and EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy USD/CAD 1.4375 - 1.4390
❌SL: 1.4340 | ✅TP: 1.4440 - 1.4480 - 1.4520
FM wishes you a successful trading day 💰💰💰
Note
Hit +50 pips from 1.4390 CongratulationTrade closed: target reached
USD/CAD is falling and touching the SMA200(2H) support zone
✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.