Quick Long and Short trade on the USDCAD pair. Follow at your own risks. There might be few pips upside/downside extra befgore triggering or hit TP but not that many, 15-30 pips top
The evolutionary break of 1.260x unlocked the floodgates and buyers successfully captured the higher high. But the revolutionary attack would not be complete without capitulation and be as follows:
1. Taking 1.295x (there is no question of having broken above July 19th highs, since sellers have given up a lot of ground for it, will unlock a test of 1.331x as a...
Flows are starting to become more mixed as we reach the final few sessions in the Quarter. The structural decline of the dollar remains but we have some room for tactical longs in USDCAD. This is emphasised by the fact that the DXY still has a final manoeuvre to make before we step down one more time:
In the short term it is buyers move to make, they have put...
📌 What we are trading here is an event risk play.
This swing illustrated combining both ADP and NFP prints. It is also characteristic for the fearlessness with which USD sellers can to a certain point neglect their own weakness.
The loonie with some broad based USD profit taking as widely expected after clearing initial targets. I am looking to recycle USDCAD...
📍 USDCAD
Prepare for a flush in CAD with the ever-present threat of Canadian tariffs from Trump. Protectionism is excellent at the best of times...let alone in the middle of a pandemic... right 🥺
The unwinding is picking up speed - RSI on track for the decline and pressure looks set to carry us into the 70 handle.
=> A possible breakdown can also now be met...
