USDCAD Trade Idea (23rd January 2020)

Currency Pair: USDCAD
Timeframe: H1
Date/Time of Signal: 23rd January 2020 / 1230hrs (SGT)

Review:
Yesterday (22nd January), the Bank of Canada kept its interest rates unchanged but downgraded 2020 forecast and hinted a rate cut could still be in the offering, thus weakening the Canadian dollar.

USDCAD broken the Resistance level of 1.3110.

Trade signaled to buy USDCAD (Entry: 1.3166) with 3 Take Profit (TP) Targets (TP1: 1.3186, TP2: 1.3206, TP3: 1.3226) and Stop Loss (SL) at 1.3136.