Below is a video clip of USDCAD Short Trade before Bank of Canada rate announcement on July 11th in Live Trading Room
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Prior to this live trade on July 11th, we wrote an article 6 days earlier titled: USD Forecast and BOC Meeting Next Week. In this article, we argue that USDCAD is showing a bearish sequence and thus whatever the BOC decision will be, we favor the short side.
We sold the pair at 1.2943 and set a target profit of 1.273 for a 3:1 Reward to Risk ratio. We hit our profit target on July 13th for a 213 pips.
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