BOC Drops Rates 1/2 Pt

Quote from cstfx:

BOC this morning cut overnight lending rates to .50% as expected. USD/CAD rallies 1 cent on the news tho.

4 trade attempts, 0 fills, 12 pip spreads.

Fun, fun, f@#%@#$
 
I think this move is beginning to run on fumes. Will short if it fails 1.2940 again or breaks 2900 with a target of 2750.
 
Quote from cstfx:

I think this move is beginning to run on fumes. Will short if it fails 1.2940 again or breaks 2900 with a target of 2750.

Stopped out @ 2945. :(
 
Quote from cstfx:

BOC this morning cut overnight lending rates to .50% as expected. USD/CAD rallies 1 cent on the news tho.

It was the quantitive easing statement that caused the move.
 
Quote from cstfx:

Stopped out @ 2945. :(

Ouch, that hurts - especially in the hindsight. Quadruple top appears in place on the daily. Further downside all but guaranteed.
 
Quote from Subdude:

Ouch, that hurts - especially in the hindsight. Quadruple top appears in place on the daily. Further downside all but guaranteed.

Yeah, premature. But it happens to all of us from time to time. :)
 
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