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!
Note
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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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.