Kay Van-Petersen
Kay Van-Petersen, macro strategist at Saxo Capital Markets, digests the market action seen in week 43 and gives his tactical positing. Van-Petersen favours a USD step back, sees gold consolidating, and believes that European equities are overheated.
Day trade
Trade view / 27 September 2016 at 6:06 GMT

USDCAD: Buying setbacks after poor Asian trade

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

Friday’s strong move higher took USDCAD back above the 13 Day Moving Average.

This left our weekly outlook positive - and after initial downside was rejected - Monday prices moved modestly higher.

Our first upside target has been met and although the proximity of the 200 DMA introduces a note of caution and Asia saw a sharp setback in USDCAD, signals for sentiment are positive.

Management and risk description

A move above 1.3200 means the stop can be raised to break even or better.


Entry: Buy in at 1.3175/80 area and any dip to 1.3147.

Stop: 1.3117 offered.

Target: 1.3200, 1.3228 or even 1.3276.

Time horizon: Intraday, ending 4pm London time.

Through average
Through Average

 Asian setback
Asian Setback
 Long term
Long Term
 Source: All charts, CQG

— Edited by Adam Courtenay

For more on forex click here            

Non-independent investment research disclaimer applies. Read more
27 September
AlanCollins AlanCollins
The market has traded through 1.3200 and so the stop should now be at break even levels.


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