USDCAD Short after important news Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Feb 25, 2015 8:37 AM

The last month USDCAD ranged in a triangle from which a possible down outbreak is coming.
BOC Gov Poloz, (14 hours ago) had some good news for the CAD, which can be seen in the chart.
In 6.5 hours Fed Chair Yellen has to bring up something for the USD or the trend should be clear here.
Once technicals and fundamentals align we can take a strong trade :)

I will try to sell into the fakemove if possible.

Yours, DogeBuffet

p.s. For anyone who wants to read Poloz speech: bankofcanada.ca/2015/02/lessons-new-old-reinventing-central-banking/

USD (US Dollar)short poloz yellen

Comments

pascalde-aguiar

⋅ Feb 25, 2015 2:21 PM

It's exactly what I have in mind ! If there's another leg up and that the BOC doesn't implement a new rate cut next week we should be all set for a nice correction !

DogeBuffet

⋅ Feb 25, 2015 2:34 PM

Yes! and Yellen is coming on soon :)

IvanLabrie

⋅ Feb 25, 2015 3:11 PM

Yellen and Draghi in the house...will trade the outcome. Hopefully FX trends resume.

pascalde-aguiar

⋅ Feb 25, 2015 4:28 PM

Even though the event is not quite finished It looks like it's not happening. The Feds don't seem to want any USD price hike at the moment. Yesterday's speech was very blurry and non-committing sending us back in the 1.24 muddy area. The Canadian data coming up tomorrow will probably move the market quite a bit more.