alutacontinua wrote:karasinga wrote:hisah wrote:karasinga wrote:karasinga wrote:considering long USDCAD
buy stop 1.35876
Caution with this one. Strong weakness on 4hr chart which means it can easily fall to 1.3490. thanks mate. trader helping out trader.... like that. lucky it was a buy stop. Watching with great interest
Still holding short here with 1.3530 and 1.3410 as targets as i had mentioned earlier. My reasoning is with crude buyers stepping in yesterday it could crack $50 add to that further USD weakness the levels could be reached however, Canadian CPI and Retail Sales data will be on the wires shortly could prove the deciding factor to break through the current low...
1.3530 target hit
Monday being a public holiday in Canada I expect thin liquidity as well as consolidation in the pair or a short squeeze up to 1.3550 before the next leg down to that 1.3410 level...depending on crude maintaining the $50 level.
Keenly watching Yen pairs (esp. $Yen) as BOJ looks to be back to their intervention strategies to weaken the currency...outflows from safe haven flows we saw last week due to the drop in USD and Wednesday's 2% stock dip look to be at play as well.
You dont have to be great to START but you have to start to be GREAT!!!!!!!!