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 / 26 August 2016 at 13:44 GMT

UPDATE: No Jackson Hole-in-one for Loonie

FX Consultant / IFXA Ltd

The original trade view expected USDCAD support in the 1.2890-1.2900 area to hold and resume the uptrend supported by a decline in oil prices. Oil prices declined but USDCAD traders ignored the move. In addition, a wave of general US dollar bearish sentiment ahead of Janet Yellen's Jackson Hole speech led to USDCAD selling.  Support at 1.2890 was breached and the stop loss was triggered.

The silver lining to this trade idea was yesterday's recommendation to sell 1/2 the position at 1.2920 (breakeven).

The trade was closed for a loss of .0048 points on 1/2 the normal position size.

Original parameters

½ USDCAD at market (1.2935) Balance 1.2905

Stop: 1.2875

Target: 1.3080

Time horizon: 4 days

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more


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