18 Month Trading - USDCAD - PT = 1.60 (2000+ pip move)
Aug 2024 - DXY has had a big pullback after the US and other major economies have and plan to cut interest rates.
Idea: The US economy will remain strong, forcing interest rates to be much higher than in recent history (08-21). Relative to other economies, the US will continue to remain strong. With a focus on re-shoring and a return to manufacturing, there are prospects for continued GDP growth. Canada also has an impending rail strike, but i expect the impact to be minimal
Risks: In the near-term, with elections coming in a few months. There is some risk from potential civil backlash and in some cases, potential policy risk. Central bank maneuvering and economic numbers will continue to present risks. Risks not considered - pandemics, weather disasters, or other "Acts of God".
Overall, this will require strong risk management, a fluid assessment of the market, and being able to respond dynamically to changing markets.
Idea: The US economy will remain strong, forcing interest rates to be much higher than in recent history (08-21). Relative to other economies, the US will continue to remain strong. With a focus on re-shoring and a return to manufacturing, there are prospects for continued GDP growth. Canada also has an impending rail strike, but i expect the impact to be minimal
Risks: In the near-term, with elections coming in a few months. There is some risk from potential civil backlash and in some cases, potential policy risk. Central bank maneuvering and economic numbers will continue to present risks. Risks not considered - pandemics, weather disasters, or other "Acts of God".
Overall, this will require strong risk management, a fluid assessment of the market, and being able to respond dynamically to changing markets.
Note
No position taken thus far. Dollar is pulling back as a whole. Will be watching this opportunity closer to 1.30.Note
This idea was strong based off fundamentals and entry point
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