Kay Van-Petersen
Kay Van-Petersen, macro strategist at Saxo Capital Markets, digests the market action seen in week 43 and gives his tactical positing. Van-Petersen favours a USD step back, sees gold consolidating, and believes that European equities are overheated.
Short term
Trade view / 10 October 2016 at 7:41 GMT

Key averages support USDCAD

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

Initially, last week's expected lower levels proved shallower than expected. Instead, buyers emerged below the 13-day moving average and 1.3100. The renewal of demand then used that line as a platform for gradual gains that broke through the 200-day MA on Friday – the first time since March. 

In fact USDCAD traded to the most positive levels since that time. With prices closing near the highs, confirming the underlying tone, we are looking for the upside to continue to develop this week.

Management and risk description

A move to 1.3368 means the stop can be raised to break even.


Entry: buy in 1.3260/70 area and any 1.3214 dip.

Stop: 1.3132 offered.

Target: 1.3368, 1.3444 or even 1.3553.

Time horizon: this week, endingoctober 14 at 1200 GMT.

Losses regained:
Losses Regained

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Source: CQG

Through average:
Through Average
Source: CQG

Long Term
Source: CQG

— Edited by Michael McKenna

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Non-independent investment research disclaimer applies. Read more
11 October
AG11406 AG11406
Is this still on?
11 October
AlanCollins AlanCollins
yes - moved towards risk level yesterday but the bounce from that point proves the validity of that point. Would expect a daily close above 1.3238 to get bulls excited.


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