USDCAD Higher
Trying USDCAD higher here.
The pair moved below a support area last week and we've now moved back above this level which should now hold.
The pair moved lower on friday due to reopening rumours in china, causing a large rally in commodities and so a fall in the USD and a stronger CAD. Over the weekend we had health officials in china coming out saying the covid rules are not changing and there's been a fair bit of talk about rising covid cases in china. I think this should cause a move lower in commodities and a rise in USDCAD as we have a decent amount of people positioned short USDCAD on a rumour that now is unlikely true.
We have US CPI on thursday so i will be taking this out by then.
If we go below the low we just made then i will likely take it out as well.
Not trading/investment advise, feedback welcome!
The pair moved below a support area last week and we've now moved back above this level which should now hold.
The pair moved lower on friday due to reopening rumours in china, causing a large rally in commodities and so a fall in the USD and a stronger CAD. Over the weekend we had health officials in china coming out saying the covid rules are not changing and there's been a fair bit of talk about rising covid cases in china. I think this should cause a move lower in commodities and a rise in USDCAD as we have a decent amount of people positioned short USDCAD on a rumour that now is unlikely true.
We have US CPI on thursday so i will be taking this out by then.
If we go below the low we just made then i will likely take it out as well.
Not trading/investment advise, feedback welcome!
Nota
taking this off for -0.41% loss, we didn't see the move higher i was expecting from the statements from china health officials so there's not too much reason for me to expect a move higher now
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.