Hey Bros!!! Today is the 7th of October 2024, and here is a Trade for your favorite USDCAD pair and lets get right on with the latest USDCAD Prediction!!! We at Bro In Finance are here to guide our followers to success with top to bottom analysing using Machine Learning technology. Bear in mind that these predictions are generated and given to you for absolutely free at no extra cost.
AI USDCAD Prediction
The mean value generated by Bro In Finance AI powered machine learning model for the USDCAD Prediction is 1.39262. Our model analyse historical data, historical trends, market data and price movements to provide a better prediction with higher accuracy.
So according our model, it suggests that the price is gona reach closer to yesterday’s peak. With that usdcad prediction lets get right into the trade setup.
Trade Setup
- Type – Buy
- Entry – 1.38785
- Take Profit – 1.38985
- Stop Loss – 1.38585
This Buy trading setup aims to get in the trade at 1.38785 and exit at 1.38985 as TP with 20 pips and 1.38585 as SL with 20 pips, while having a 1:1 risk to reward ratio. You can enter this trade right now. You should remember that there is a highly significant news about to happen today and that is non other than the FED INTEREST RATE DECISION.
Normally, we suggest to refrain from placing any trades on such days but, the placing of the price is in a good position where we can maybe grab some profits before the news. And that is why even with a good range of a prediction, we still placed only for 20 pips of both TP and SL. Make sure to read the IMPORTANT NOTE below.
Important
- This usdcad prediction trading setup is only valid for 7th of November 2024 before the FED news. And it is advised to close the trade before the news and take whatever it is you have at that point. YOU ARE NOT ADVISED TO HOLD THE TRADE DURING THE NEWS
- 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 Finance’s proprietary data, is provided for informational purposes and should not be considered investment advice.
