Hey Bros!!! Today is the 11th of October 2024, and here is a Trade for your favorite USDCAD pair with our usdcad prediction!!! Will the 11.11 luck strike our fellow traders today? ๐ Lets get on with the usdcad daily outlook.
AI Prediction
The mean usdcad prediction value generated by Bro In Finance AI powered machine learning model is 1.39050. Our model analyse historical data, historical trends, market data and price movements to provide a better prediction with higher accuracy.
So according to our model, it says that USDCAD price may go down. We so an increase in price movement at steady phase by the time close the markets last week. However this is a new week. So lets get in to the trading setup based on the usdcad prediction given.
Trade Setup for the usdcad prediction
- Type โ Sell
- Entry โ 1.39243
- Take Profit โ 1.39053
- Stop Loss โ 1.39395
This Sell trading setup aims to get in the trade at 1.39243 and exit at 1.39053 as TP with 19 pips and 1.39395 as SL with 15.2 pips, while having a 1:1.25 risk to ratio.
Forecast usdcad for november canadian news?
Today the sky is looking clean as there are no significant news going to happen. According to the daily outlook usdcad, If you look closely in the chart the best selling position is at the entry that we made, but that has already been touched few hours ago. However we dont want to chase trades as that can lead to loosing trades. So thats why we place our trade as a pending trade at that peak it reached before. So lets hope the price retest and hit the entry and then come down reaching our price forecast predictions for usdcad generated by Bro In Finance.
Important
- This trading setup is only valid for 11th of November 2024. And it is advised to close the trade by the end of the day is either the Take Profit or the Stop Loss is not hit.
- Only enter the trade if the price do hit the entry or else dont adjust the entry to get in the trade quickly. Because doing so result in trade inconsistency which leads to Bad Trades.
- Its always better to have the 15 mins chart and the 1 hr charts opened to get insights due to its clarity on how the price actually move. While the 15 mins chart shows you the changes in a shorter period, the 1 hr chart captures the overal movement. We do not recommend trading on anything less than 15 mins chart because it can sway you in your judgements with sudden price movements. And same thing goes to anything larger than 1 hr chart because we are aiming to hit day trades.
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Disclaimer: Forex trading carries significant risk and may not be suitable for all investors. This analysis, based on Bro In Financeโs proprietary data, is provided for informational purposes and should not be considered investment advice.
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