BK USD/CAD Big Trade 10.06.2015 +100

by Kathy Lien

10/19 update -- Close both lots USD/CAD at 1.3011, which means we made 50 pips per lot, +100 on trade

***Update second entry triggered, average 1.2961

***Update First Entry TRIGGERED

Place Order to Buy 1 lot USD/CAD at 1.3047

Place Order to Buy 1 More at 1.2875

Stop for ALL at 1.2680

Since topping out last week USD/CAD experienced a very deep correction that we believe has run or is close to running its course. Oil prices rebounded but they remain low and most importantly, economic data from Canada has been weak. Between the drop in the IVEY PMI index, the expansion in the trade balance and soft consumer spending, the outlook for Canada is grim. The U.S. dollar on the other hand should remain supported on the ongoing belief that the Fed will raise interest rates in 2015

Swing