Day trade
Trade view / 16 August 2016 at 10:08 GMT

UPDATE: Fading the intraday bounce in USDCAD

FX Consultant / IFXA Ltd

The original trade view suggested waiting for a bounce in USDCAD back into the 1.2930–40 area to sell, anticipating continued bearish sentiment for the US dollar and firmer oil prices.

USDCAD bumped into the sell overnight and if you were extremely lucky, your order was filled at 1.2930, coinciding with the spike in WTI oil prices above $46.00/barrel   

If so the take profit level was hit in the late European morning, closing the trade for a gain of 0.0070 points.

For the record, my order at 1.2935 was left fluttering in the wind and was not filled.

Note:  this trade view is now dead.

Original Parameters

Sell USDCAD on bounce to the 1.2930-40 area

Stop: 1.2981

Target: 1.2860

Time horizon: 3 days

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
16 August
Cap21 Cap21
16 August
Hisham Boulos Hisham Boulos
excellent call Mike many thanks .. you think still room for further decline or will rebound from here :)
16 August
Michael O'Neill Michael O'Neill
more downside to 1.2760,
16 August
Hisham Boulos Hisham Boulos
OK cheers .. :)
16 August
Estuardorlemus Estuardorlemus
Thanks Mike !!
16 August
fxtime fxtime
A good call Mike :-)


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