Cad has been going very strong for a longer period of time. We may see a correction so we have placed usdcad long with a tight SL. We know its a downtrend, but we think USD will be pushed upwards and therefor USDCAD is long.
Also our data shows increase in CAD shorts so we think there is a preparation for a move down on cad.
Also our data shows increase in CAD shorts so we think there is a preparation for a move down on cad.
Comment:
A very big volume spike is also noticed earlier in April so this may be a hint of a reversal.