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

UPDATE: Stalled USDCAD rally NOT ready to resume

FX Trade Strategist /
Instrument: USDCAD
Price target:
Market price:

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
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...
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.
goldfinger goldfinger
I absolutely agree. Recession is on its way. However, timing is all.


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