Opened short at 1.5235 on 24.01.2018
- It’s a half tech, half expectational trade this one
- The USDCAD broken through 1.2400-1.2385 support on both USD weakness and yesterday’s hints Nafta negotiations weren’t going to bad after all
- EURO should see some reform of retracement or at least settle down vs other currencies if USD continues weakness ahead of tomorrow’s ECB decision and especially Silver Tongue’s comments.
- EURCAD broke under the 20 and 55 MA’S on the 4hour chart and the 22/01 bounce low.
- Target 1.5115/20 where the 100/200 MA’s lie on the H4 and the 17/01 spike low.
- Stop above 1.5270
- Aiming to close the position ahead of the ECB tomorrow or at least parts of it if target is hit first.
Latest posts by K-man (see all)
- #Canada #Employment report preview. - November 5, 2021
- Rotation, ROTATION! - November 24, 2020
- $CNH living on hopium? Big week for the Yuan this. - January 13, 2020
That was to optimistic then or wrong timing …
Crazy moves at the moment. I’m sitting out.
I looked into it but did not jumped in. Now I give a try to this pair. I went short from the level 1.5295 with SL 1.532 and same target as you had K-Man. Let’s see….
Hi Gaboss , I actually jumped in it again too , same play
Hi K-Man,
What is your take on this pair after SL? Shall I forget or TRY to reverse by shorting it with SL on the top 1.5416? Thanks for your thoughts.
Hi Gaboss, some of us at Forexflow have indeed jumped on the train again short with a stop above the day’s highs. It’s still my preferred side to be long CAD , I do have small USDCAD short again after the Trump rally but maybe GBPCAD looks to be a better pair if one wants to avoid USD, after having hit above and failed 1.76 , short around 1.7550 with a stop above 1.76
Thank you very much K-Man. I favor to be long CAD. GBPCAD good suggestion, I did not follow this pair. Just looked back on the weekly chart: seems this pair has arrived to a very important level 1.75-1.76, now resist. I have a small EURCAD short letting it run till yesterday’s high.