This is probably will be my 2nd trade of the day. I don't intend to put it on yet since I may give market too much room to go against me.
The thesis is again based on my expectation that CAD data is bad vs the good expectation. It is however not a very significant data and it's isolated. If market has little reaction I'm not interested in holding it for long.
The pair in focus for me is NZDCAD. It is Net Short so far indicating CAD is bought there. Entry plan for me is to enter nearer to event announcement, ideally if the pair just hovering in the 0.885-0.883 area. I'll exit if the news came out good for CAD and also since this is an isolated event, if I can be in profit I'll probably take it off in the hour after the news.
The thesis is again based on my expectation that CAD data is bad vs the good expectation. It is however not a very significant data and it's isolated. If market has little reaction I'm not interested in holding it for long.
The pair in focus for me is NZDCAD. It is Net Short so far indicating CAD is bought there. Entry plan for me is to enter nearer to event announcement, ideally if the pair just hovering in the 0.885-0.883 area. I'll exit if the news came out good for CAD and also since this is an isolated event, if I can be in profit I'll probably take it off in the hour after the news.