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!
Catatan
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
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.