BOC has raised the interest rate to 1.25%, previous 1%, with that being said, the most certain is that we're going to see a bullish movement by the Candian dollar now which will drive the pair USDCAD lower maybe to the 1.2100 region where there is a major support area. of course, it will not happen overnight, this target is set for the mid-long term purpose.
so the market has touched my SL order, and this is quite a good lesson do not get excited to enter the market right after the news especially after with amount volatility like yesterday.
both ways I'm still bearish on this market, a break below 1.2420 might be a good way to short again.
both ways I'm still bearish on this market, a break below 1.2420 might be a good way to short again.