Day trade
Trade view / 03 June 2016 at 13:23 GMT

UPDATE: Stalled USDCAD rally NOT ready to resume

FX Consultant / IFXA Ltd

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

: Buy ½ position of USDCAD at market (currently 1.3070), balance at 1.3020

Stop: 1.2959 offered

Target: 1.3300

Time horizon: 7 days

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
03 June
goldfinger goldfinger
crushed most of us, one way or the other! Only reprieve I was long cable and I have a big short on euro£. We will see...
03 June
John Shaw John  Shaw
Welcome to the Casino bud. Just when you are sure of it, it ain't.
I've been telling people to watch new car sales numbers.
We are heading back into a recession and there are not many tools left in the box to fight this one.
My 2 cents and that may be just what its worth. lol
Have a great weekend.
03 June
goldfinger goldfinger
I absolutely agree. Recession is on its way. However, timing is all.


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail