Going short on this position at market. NZD monetary policy outlook remains bearish while the CAD is benefiting from stronger oil prices enhanced by the recent storm impact on oil production. CAD GDP is set for release today and is forecasted to grow marginally.
Downside risk to this is the storm passing and no longer creating oil production problems. Technically the pair is now at a resistance level which will hopefully see it turn back downward.
Downside risk to this is the storm passing and no longer creating oil production problems. Technically the pair is now at a resistance level which will hopefully see it turn back downward.
Trade closed manually:
Not a good call this one.
Comment:
£4 loss