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A stronger USD today created a nice short opportunity in the GBPUSD
The GBPUSD oscillated in a tight range during the first half of the U.K. session. As it moved lower to its Asian session low early in the U.S. session overlap, an entry was taken risking 15 pips for a potential 107 pips to our daily target at 1.3270. Price moved...
Shorting the USDCAD as the dollar pulls back following its surge higher yesterday
Volatility continues as the markets attempt to decipher the impact of the Ukraine invasion by Russia, the waning infection numbers from the Covid 19 virus and the imminent rate hikes due to begin in March. Trading has been tricky since the corona virus first...
Shorting the USDCAD to begin the trading week
A quiet Monday with little economic news to drive price. The USDCAD made a brief move higher as North American traders began their day. Price then reversed lower following a bearish engulfing candle. A short was taken risking 14 pips for a potential 40 pips to our...
Shorting the USDCAD as the month of January winds down
After the U.S. traders got underway today, the USDCAD made a lower high which was followed by a double top and reversal pattern… closing beneath 1.2750. A short was taken risking 19 pips for a potential 78 pips to our daily target at 1.2670. Price moved lower going...
Shorting the CADJPY as “risk off” sentiment continued today
Canada’s economic releases today came in below expectation. As the equity markets continued lower this week, the markets were in “risk off” sentiment… which tends to move flows to the JPY. A short in the CADJPY was taken risking 10 pips for a potential 22...
Shorting the CADJPY
The CADJPY began the U.K. session moving higher before ranging for three hours going into the U.S. session overlap. Price attempted to push higher briefly, but was unable to close above its Asian high and formed three bearish hammer candles. A short was...
PPI, Pop and Pullback set up EURUSD short
First we had Federal Reserve Vice Chair Lael Brainard saying the central bank should soon moderate the size of interest rate hikes, signaling she is favour of half-point increases as early as December. Today we had PPI data which came in weaker than expected...
Long the EURUSD after Fed Chair Powell’s initial testimony
As the EURUSD closed above 1.1335 today, a long was taken requiring an 8 pip stop loss for a potential 38 pips to our daily target at 1.1375. The first area to get through was the 1.1350 level which price did with ease as the USD exchange rate weakened amongst the...
Starting the new trading year with a USDCAD short today
The event risk today was the U.S. NFP release. An hour after the release, the USDCAD moved convincingly lower and closed beneath the 1.2700 figure. A short was taken risking 20 pips for a potential 76 pips to our daily target at 1.2617. The USD was weak today and...