This short blog post of my trade for USD/CAD pair will tell you how accurate and reliable the QuantDS FX guide is. I will show you below how I decided to follow the QuantDS FX recommendation instead of some analysts' forecast and how it turned out to be right. (Click images to enlarge.)
The forecast for Consumer Price Index this Friday is 1.40% which is higher than Previous result of 1.30%. Take note that high value is good for Canadian dollar which means if the Actual result will be high, then the Canadian Dollar will soar and Forex pairs with counter currency of CAD will retreat (ex: GBP/CAD, AUD/CAD, USD/CAD).
Below is the recommendation of QuantDS FX for USD/CAD pair.
Base on QuantDS FX trading guide, it is an uptrend for USD/CAD pair. It means that the USD (US Dollar) is stronger than the CAD (Canadian Dolllar) and the pair is moving up on the chart. The certainty for the trend is only 40% BUT the recommendation for the currency pair is still BUY LIMIT.
Trusting the guide, I decided to follow it. I place my Buy Limit order for USD/CAD exactly on the Exchange Price Trigger at 1.3049.
The Canadian Consumer Price Index result came out tonight (21:30 GMT) and it's only 1.10%, which is lower than the Previous and Forecast results, negatively affecting the CAD (Canadian Dollar).
The USD/CAD pair spiked, in favor of my position. 🙂 Really surprised how QuantDS FX predicted the future movement better than some market analysts.
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