USDCAD – Still in a bearish market condition

Earlier this morning the BOC hiked interest rates to 1% (from 0.75%), even after this important announcement the USDCAD still is in a bearish market condition:

USDCAD
USDCAD

The USDCAD is likely to continue its way down until it finds the next LT support level which is at 1.0160.

Only short opportunities are in play in the USDCAD.

Trade Safe!

Raul Lopez
Forex Training

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .