ridethepig | CAD Market Commentary 2020.04.08
Commodity currencies reached the 🔑 value levels to load for this final leg down in risk. As mentioned here last week 0.62xx was the level to load in AUDUSD and NZDUSD.
I also loaded an entire short CAD portfolio with USDCAD testing the 1.395x outguessing a negative outcome tomorrow. In best case scenario we will see a ‘handshake’ which wont be enough to offset this huge demand shock, I will keep an ear on the wires with live coverage resuming as usual from today.
I am closely tracking for the final sweep to the lows in Oil, for those following in the previous strategies we are entering into fill or kill territory with the final $15 targets:
Monthly
For all those wanting to dig deeper and build a basket around short CAD I would recommend unless you know what you are doing to start your positions with a hedge, outguessing the flop tomorrow will trigger a major sell off in the black stuff. Thanks as usual for keeping the support coming with likes, comments and etc!
I also loaded an entire short CAD portfolio with USDCAD testing the 1.395x outguessing a negative outcome tomorrow. In best case scenario we will see a ‘handshake’ which wont be enough to offset this huge demand shock, I will keep an ear on the wires with live coverage resuming as usual from today.
I am closely tracking for the final sweep to the lows in Oil, for those following in the previous strategies we are entering into fill or kill territory with the final $15 targets:
Monthly
For all those wanting to dig deeper and build a basket around short CAD I would recommend unless you know what you are doing to start your positions with a hedge, outguessing the flop tomorrow will trigger a major sell off in the black stuff. Thanks as usual for keeping the support coming with likes, comments and etc!
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.