USDCAD Follow Up - From Previous Trade Idea
Well I wasn't expecting this pair to sell off as quickly as it did and so I decided to lock in all short positions. Closed all positions early at Target 2
When reviewing all major dollar pairs across the board, they are now displaying the dollar in oversold territories. Gold also like it's at a tipping point to correct to the downside. With that said, I'm now preparing myself to position for the long-side of USDCAD with a near-term target of 1.3980 in participation of Loonie weakness heading into the June crude oil contract expiration on Wednesday.
Long-side Trade Idea: Gradually fade the bearish trend to the 1.39 Handle.
Here's a preview of the Initial Trade Idea
Trade Safe - Trade Well
Cheers!
When reviewing all major dollar pairs across the board, they are now displaying the dollar in oversold territories. Gold also like it's at a tipping point to correct to the downside. With that said, I'm now preparing myself to position for the long-side of USDCAD with a near-term target of 1.3980 in participation of Loonie weakness heading into the June crude oil contract expiration on Wednesday.
Long-side Trade Idea: Gradually fade the bearish trend to the 1.39 Handle.
Here's a preview of the Initial Trade Idea
Trade Safe - Trade Well
Cheers!
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