Clive Lambert - FuturesTechs
Clive Lambert of FuturesTech is looking to sell USDCAD at a break of the overnight low at 1.3184 with a stop above 1.3237 (Marabuzo). His targets are 1.3000 and 1.2930.
Day trade
Trade view / 02 September 2016 at 5:55 GMT

Beware possible nonfarm payrolls storm, USDCAD bulls

partner and technical analyst / 3 c analysis
United Kingdom

A bullish forecast on the week has been confirmed and signals in each of the last three days have continued to point higher. These have been confirmed with Thursday’s trading posting a fourth higher daily low and high in a row, though with prices closing little changed for the second day in a row.

In fact the market has posted a second small daily shooting star, a sign of bullish exhaustion and perhaps a warning ahead of the NFP storm. This has left a bearish bias to signals for Friday.

Management and risk description

Allow room to sell an intraday up-tic and lower the stop to entry if the first target is met.


Entry: sell at market and 1.3115.

Stop: 1.3149, yesterday's high.

Target: 1.3008, Tuesday's low and 1.2974, this week's base.

Time horizon: Today until 1300 London time (1200 GMT)

USDCAD Weekly - recovery to losses

USDCAD Quarterly - highs rejected

Charts: CQG. Create your own charts with SaxoTrader; click here to learn more. 

For more on forex, click here.

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
02 September
AlexF AlexF
Could you suggest a protective strategy for a long usdjpy and nzdjpy in case NFP disapoints please ?
02 September
Steve Lucas Steve Lucas
Hi Alex - you can get option protection and your contact at saxo can help you with that, or you could do what I will be doing and closing out of course
02 September
Michael Liu Michael Liu
Hi Steve, will you close the position before the NFP news??
02 September
Steve Lucas Steve Lucas
Yes Michael, definitely - and the weekly position
02 September
Michael Liu Michael Liu
I jump on this boat, hope we can make some money.


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