UPDATE: Stalled USDCAD rally NOT ready to resume
The original trade idea expected that the stalled oil price rally and improving US data would fuel USDCAD gains.
The major problem with that premise was that the important US data, NFP, wasn't strong. In fact it was extremely weak which led to a wholesale bail-out of long USDCAD positions.
The stop was blown for a loss of 0.88 points.
Original Trade idea parameters
Entry: Buy ½ position of USDCAD at market (currently 1.3070), balance at 1.3020
Stop: 1.2959 offered
Time horizon: 7 days
— Edited by Clare MacCarthy
Non-independent investment research disclaimer applies. Read more