ridethepig
Short

ridethepig | CAD Quarterly Outlook

TVC:CXY   Canadian Dollar Currency Index
๐Ÿ“ USDCAD

Prepare for a flush in CAD with the ever-present threat of Canadian tariffs from Trump. Protectionism is excellent at the best of times...let alone in the middle of a pandemic... right ๐Ÿฅบ

The unwinding is picking up speed - RSI on track for the decline and pressure looks set to carry us into the 70 handle.

=> A possible breakdown can also now be met with the USDCAD flows. As you can see, the CAD weakness has affected the basing structure and now sellers of the Canadian Dollar will deprive buyers the fruits of their deeply laid plans of Dollar devaluation across the board. Thanks to a little tactical finesse, to this trade.


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Comments

Great spot! WTI is also having problems now, so CAD could really fall hard soon.
Reply
ridethepig Antonio_trader
Indeed @Antonio_trader, another hammer on the demand side looks imminent.
+1 Reply
Antonio_trader Antonio_trader
@Antonio_trader, And this USDCAD seems about to break and CAD could fall hard, also CAD GDP data in 36 minutes
Reply
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