For Traders

Analytical Reviews

Technical analysis

24.04.201915:01 Forex Analysis & Reviews: BOC Monetary Policy Report news trading, USD/CAD analysis for 24.04.2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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

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.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.