USD/CAD Is the Fed ready to raise interest rates?

17 Sep 2023

On USD/CAD, we have a bearish setup with the price at the 1.3520 level. This week involves a lot of data regarding the US and Canadian dollars. The goal will be to look for a long position, as the price is currently in a bearish channel after breaking some swing lows. I will look for a long position on the 15-minute chart during tomorrow's New York session. My profit target will be the 0.38 and 0.50 Fibonacci levels, as marked on the chart. Let me know your thoughts. Happy trading.