Usd/cad

Parity here we come. Since there are many who are playing for a correction, the downward trend will not abate. Those who are long are wrong.
 
I think that CAD is probably the worst of all the currencies to short vs the USD....at this time. Wait for the high CAD to affect eco #s then catch the wave....when they start to puke out long CAD postions it will be obvious and strong. Why not long the USD (which i think has been way oversold on erroneous euro spec that the US is done raising rates...i see minimum of 5.5 this year) against GBP, which aside from a few isolated instances has poor trending eco #s.....futures have priced in .75 in hikes for UK this year, and I see at most .25, likely flat, and still a greater chance of lower than higher. Also, JPY is a nice short medium term.....the rumour has them maybe rasing in June....in all likelihood not until Sept.....CHF as a safety play will help keep EUR relatively strong as iran/us nuclear stuff plays out. My opinion is that the next large swings will be anti GBP and JPY.
 
Closed my long for loss of 6 pips. It was a dumb, bottom-calling, trend-fighting trade.

Not that I'm bitter because I'd be up now....

Spot trades at 1.1021
 
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