empty
 
 
24.04.2019 03:01 PM
BOC Monetary Policy Report news trading, USD/CAD analysis for 24.04.2019

USD/CAD is trading near the critical resistance at the price of 1.3466. The background suggests further upward price and potential new highs.

This image is no longer relevant

We want to suggest play for the incoming Bank of Canada Monetary Policy Report. According to the Daily time-frame there was the upward breakout of the 2-week rectangle pattern (sideways base), which is sign that buyers are in control. Our advice is to place pending buy stop order at 1.3470 with target at 1.3523 and stop at 1.3380. You want to go in the direction of the overall trend and the momentum. Second play can be if the USD/CAD drop on the news, to watch for buying at 1.3400 with the target at 1.3523 and stop at 1.3333.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback