I was contemplating to load up the CAD pairs but I changed my mind. The Loonie is clearly positioned for a major (continued) drop on the near term and thus, ALL CAD base pairs are very likely to under perform their USD cousins. Thus, back to the (previous) base case; (continued) Long USD and Short pretty much everything else . (...as far as the eye can see).
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Looks like this pair is steadily climbing the ladder ... ... one Quarter Point at a time. It is quite predictable (tradable) at these levels.
(Once the CAD bottoms out, it is likely to be "The" base currency to trade, for quite some time to come - measured in years; I.e, at least 1-2).
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This is probably good for 230 pips here; SHORT
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This SHORT ought to have a 200+ pips mileage!
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The CAD is probably the most under-valued (over-sold) currency out there. This is unlikely to change immediately BUT it is about to start on its long road to correction.
Right now, a small drop (USD/CAD rise) is at hand;
However, on the long run;
... adn the Weekly A lot of money is to be made here!