The idea is conditional on the $DX and $CL_F reversing their current courses.
That said, the fundamental picture in Canada continues to worsen and the $CAD has put on some serious size in the last few weeks.
Technically, it is now put in a double top, is testing the top of the range, overbought and following the top of the channel. The $CAD also had a pretty serious intraday reversal. Could be an interesting short candidate back down to the mid 0.80s
Selling calls over 84 could be an interesting play.
That said, the fundamental picture in Canada continues to worsen and the $CAD has put on some serious size in the last few weeks.
Technically, it is now put in a double top, is testing the top of the range, overbought and following the top of the channel. The $CAD also had a pretty serious intraday reversal. Could be an interesting short candidate back down to the mid 0.80s
Selling calls over 84 could be an interesting play.
