The USDCAD pair rallying to balance the supply-demand and creating a brand new weekly downtrend. In weekly time frame, the chart printing signals at 1.31870. At 1.46916, candles formed an impulse and saved the trend from upward. And the signal forms a correction to stabilize the trend. (shown in the graph) After the correction formation, (1.32049) signal broke the trend with an impulse. (shown in the graph) By the broke out impulse, the signal hoisting a flag correction and printing the current price action. (shown in the graph) With the above facts, I’m expecting an impulse to pull the trend down from the current price action. Due to the flag correction, the candles may form an impulse and correction. If impulse and correction mean, your take profit should be 1.21864 with 3.29% R/R ratio. But the candles will form the structure like a thunderbolt. The price range will move to the down and retrieve to the top as correction and again back to down. In case the price range moving to the resistance means, end the trade at 1.34908. EYES ON CHART AND DECIDE YOUR TRADE. SIGNAL SPECIFICATION: Pair: USDCAD Order: SELL Entry: 1.31870 Take profit: 1.21864 Stop […]
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As a currency trader, one of our essential jobs is to follow and track the major central bank activities. In this article, we will investigate the internal working of central bank board meetings, in order to understand how most of the bank decide their monetary policy. This will build your comprehension of how the bank works. We will discuss carefully into the accompanying focuses. Why Central Banks Meet As A Group First Stage – COLLECTING DATA Second Stage – Sharing information Third Stage – Making A Policy Decision Central Bank Case Studies The activities of each bank affect the movement of the related cash pair. Having the capacity to foresee cash value developments is integral to whether you will profit or not. As per the IMF, national banks started as tyrannical structures. The sole chief frequently called as the governor. After some time they advanced to settle on their choices by means of larger part board vote. This makes most of the bank democratic in nature. Today, the representative is the emblematic head with a few board individuals around them. All individuals vote and the larger part wins the choice. Why National Banks Meet As A Gathering […]
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