Hopefully Fed will help clear the congestion ( or mess the things up further ) in Fx market today after FOMC release. Like old habits, entrenched trend die hard and Canadian Dollar pairs can provide some excellent trading opportunity today. USD/CAD is the most obvious pair followed by GBP/CAD and EUR/CAD. We are leaving aside AUD/CAD for time being. Let's focus on USD/CAD first. Depending upon where it would be trading during the release,
1.) If above 1.3000 then the level which can provide good risk reward is near 1.2900
2.) if it's below or near 1.2900 then near 1.2800 we can go long with little increased position size.
Similarly, we are also looking for trading opportunities in EUR/CAD near 1.4200 and for GBP/CAD near 2.000.
Check out our previous USD/CAD trade idea which gave us +100 pips
1.) If above 1.3000 then the level which can provide good risk reward is near 1.2900
2.) if it's below or near 1.2900 then near 1.2800 we can go long with little increased position size.
Similarly, we are also looking for trading opportunities in EUR/CAD near 1.4200 and for GBP/CAD near 2.000.
Check out our previous USD/CAD trade idea which gave us +100 pips
