alutacontinua wrote:karasinga wrote:alutacontinua wrote:alutacontinua wrote:alutacontinua wrote:karasinga wrote:alutacontinua wrote:alutacontinua wrote:alutacontinua wrote:$CAD on my watchlist...the first 2 hours after the Frankfurt open today showing signs of the start of a downtrend above 1.37. Still waiting to determine entry and downside targets but SL would be above Friday's High (1.3792)
Trigger should be today's US Crude Oil Inventories news release
And we have lift off
Lets see if we can get some momentum going. Downside has
a lot of legroom...
like this
Despite Oil's continued rise USDCAD caught a bid yesterday after Moody's downgrades 6 Canadian Banks
https://m.moodys.com/res...adian-Banks--PR_366355?
"Oil continues its biggest rally since December: US stockpiles falling faster and earlier in 2017 than 5yr average as OPEC reduces output to trim global gut"
My targets are 1.36 and 1.34 based off the above fundamentals
Goldman (or as @hisah calls them LeSquid) have scrapped their Euro Parity call. Ups 12month forecast for $EUR to 1.05 from 1.00 on an upbeat ECB and see less scope for major policy divergence. They also lowered their USD outlook and believe it will lag Reagan's fueled rally in the 80's
The 1st round French election vote gap up still looming in the background...
UPDDATE: First target at 1.36 hit
might be in for some consolidation before further downside continues
Next targets are 1.3530 and 1.3410
will you mind to share why you are still holding short. in learning mode
Mostly fundamental reasons...A couple of OPEC countries have mentioned that they wouldn't mind extending supply cuts by a further 6 months then there is the current retrace of the TRUMP USD trade. (The Weekly $DXY Chart says it all)
US Crude inventories come in at -1.753MM vs. -2.360MM exp. Crude rallying towards the $50 level while $DXY keeps heading lower. Think the next downleg on $CAD has started TP1 - 1.3530 now in focus.
@Hisah EUR$ has really been volatile today...bulls really taking advantage of the slide in the $ due to White House issues
You dont have to be great to START but you have to start to be GREAT!!!!!!!!