Usd/cad

Overall, I'd agree with you. But sometimes it's smart to fade the trend. I've done it and made out like a bandit before. Especially fading a downtrend that is at a multi-decade low or an uptrend at a multi-decade high. Like USD/CAD is at now. Hell, like CAD is against just about everything.
 
Quote from Ivanovich:

Overall, I'd agree with you. But sometimes it's smart to fade the trend. .
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Of course i try to fade the trend on 24/11
long 1.7003 and get out break even the next day when my entry
point was touched
 
Quote from The Kin:

my stop is .1493

Cad is very strong, but .1500 seems like an excellent support.
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It's option related defense, which means it's only good at the moment :)

But don't worry. Take a look at how oversold the dailies are. You'll get a bounce. CAD cannot continue to move in a straight line forever.
 
We could have some interesting price moves today if the fed waivers in its commitment to raise interest rates. It's possible usd/cad could fall far below .1500 depending on the language.

But alas I'm counting on the fed affirming its stance against inflation which should bring balance to the usd/cad pair.

Time will tell soon enough. Let's hope this noob forex trader is right. :D :p
 
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