USD/CAD Trade Recommendation, July 11th | Hacked: Hacking Finance
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USD/CAD Trade Recommendation, July 11th

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USD/CAD Trade Recommendation, July 11th

Introduction

This article was posted on Tuesday, 18:20, UTC.

USD/CAD: Short-Term Buy

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USD/CAD, 4-Hour Chart Analysis

The pair has been trending lower ever since hitting a high in May near 1.38, as US economic numbers have deteriorated, the Canadian economy has been showing surprising strength, and global risk assets have been holding up well. The Bank of Canada is widely expected to raise its benchmark interest rate tomorrow, and that could spark a “sell-the-news” trade in the overbought Canadian Dollar.

We expect the uptick in economic activity to be transitory, while the continued weakness in the price of oil should also weigh on the commodity currency, while the USD will likely experience a counter-trend rally against the Euro, as the sentiment is extremely bearish towards the Greenback. These factors justify a short-term buy signal that could turn into a longer-term position, as a major trend change is also in the cards, especially if the stock market correction deepens.

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Feedback or Requests?

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR max.invest

    Posted on 4:48 pm July 12, 2017.

    Garbage.

  • user

    AUTHOR flogy4031

    Posted on 5:11 pm July 12, 2017.

    It seems I’m only loosing money listening to your recomandations…

  • user

    AUTHOR Mate Cser

    Posted on 5:51 pm July 12, 2017.

    Guys, admittedly we had some losing trades lately, but our hit rate is still around 60% with the winners being larger than the losers. On USD/CAD, we had three winning trades before this loser. That said, we are working on a better, more sophisticated signal system.

    • user

      AUTHOR flogy4031

      Posted on 6:37 am July 13, 2017.

      It’s not your fault, but you shurely understand how frustrating it is to loose money. I have lost quite a few on XRP and BTS (because I allso thought it’ll go well and I was leveraged- you all know how it went – I lost about 10 BTC 🙁 )

  • user

    AUTHOR misson1682

    Posted on 6:28 pm July 12, 2017.

    Very confusing to see what happen here… Exactly the opposite of your trade happen. Could you make a debriefing? I will be very interested to understand why market reacted like this.
    Regards.

  • View Comments (5) ...
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