Both ideas are to take advantage of any possible CAD weakness going into the new week
Barclays announced a trade idea to buy USDCAD using call options. This got me thinking about other ways of selling CAD on selected crosses. I’m taking more of a technical view here, as i do not have a particular feel for CAD at this time, The strength in CAD across the whole spectrum of crosses since BOC raised the rate has been impressive and can’t be ignored.
Firstly CADCHF. Slanting head & shoulder set up with a measured move/ target area around the 38.2% of the June low. Any move up towards the ‘RS’ will also get me interested, with my stop loss at or above the highs (head).
Watching CADJPY for a short trade on the failure to hold the channel and the 50% of the Dec 2014 – Nov 2016 high/low.
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