peterdcharlebois

The USDCAD move up is a bit anemic - But it could still suprise

FX:USDCAD   U.S. Dollar / Canadian Dollar
The USDCAD             is following Gold             and OIL             more than the USD. This correction does not have legs yet but it could surprise if the commodities move sharply lower. However, I'm still cautious of a much larger correction just yet.
Comment: Well... I did say it would pop and surprise... But I wasn't' expecting this kind of a gap... Wow... . So for now, I think it tries to fill the gap then heads towards 1.30 this week.
Comment: It's not even trying to fill the gap... hmmmm
Comment: Boy, this pair is on a roller coaster ride... It almost made 1.30. The reverse was expected. but again... not that fast. Oil can still potentially correct more... so I don't think the ride is over yet.
I think it's going to pop up and surprise while oil corrects... then turn back, around 1.30ish.
Reply
no surprises ..just dont close the short lol Good luck
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BTW.. I'm long... but not for long.
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