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Shorting the EURCAD as the Euro falls further
I have been reflecting back on conversations I’ve had over the years with institutional traders about when the EURUSD would reach par or move even lower. Many times a case has been made for the EURUSD to reach par in a given year… but it didn’t. We have a hawkish...
Long the EURUSD with a weaker U.S. Dollar today to end the first half of 2022
Lots of volatility as the second quarter and first half of 2022 come to a close. A long was taken on the EURUSD risking 11 pips for a potential 51 pips to our daily target at 1.0468. This was a countertrend trade… hence a lower probability trade and a...
Long the USDCAD as the USD strengthens today
Expect volatility this week as it’s month end and quarter end. Today as the USD moved higher the USDCAD tested and retested it U.S. session lows then moved higher. A long was taken risking 14 pips for a potential 52 pips to our daily target at 1.2901. The Asian...
Shorting the USDCAD as the U.S. dollar weakens today
The USDCAD has been fairly volatile lately. The pair tends to run up and test the 1.3000 figure but has difficulty so far remaining above it for long. As the North American session got underway today, the pair made a third lower high for the day, and a short was...
Long the USDCAD as the USD recovers after two down days
A week of central bank interest rate announcements made for very volatile currency markets. As the U.S. session got underway today, the USDCAD retested its Asian session high and immediately found buyers. An entry long was taken risking 20 pips for a potential 53...
Shorting the USDCAD as it continues to trend lower today
During the first half of the U.K. session the USDCAD made a series of lower highs as it tested and moved beneath yesterday’s high. As the North American session began, it reversed higher but was unable to take out today’s high. As price moved lower through the...
Shorting the NZDUSD today as the DXY continues higher for the sixth session in a row
I tend to trade the AUDUSD more often than the NZDUSD, but the setup in the Kiwi today required only a 13 pip stop loss for a potential 41 pips to our daily target at .6463. My preference is not to enter trades in the middle of the Asian session range unless I have...
Shorting the GBPUSD as the DXY continues to trend higher through the month of April
The USD continues its ascent and the GBPUSD continues its descent. Regardless of the chart interval, one can see a series of lower highs on pullbacks. Today, during the U.S. session overlap as the pair made another lower high a short was taken risking 20...