USD/CAD Big Trade 10.20.2015 +73

10/21/15 BK -- Close USD/CAD trade pre-BoC here at 1.3038 for +73. You can ride it through but we are cutting risk ahead of this key event and will revisit later

10/20/15 update -- USD/CAD Big Trade 10.20.2015 -- First Entry TRIGGERED

BK Big Trade -- 2 New Orders

Reload USD/CAD

Place Order to Buy 1 lot USD/CAD at 1.2965

Place Order to Buy 1 More at 1.2790

Stop for ALL at 1.2610

If USD/CAD retraces again, we want to be a buyer. The Bank of Canada’s monetary policy announcement is one of the biggest event risks this week and given the recent deterioration in manufacturing activity, ballooning of the trade balance, and the rise in the unemployment rate, the BoC has every reason to be dovish. At the same time, the U.S. dollar is oversold and we believe that it is due for a bounce during this quiet data week.


Leave a Comment

Your email address will not be published. Required fields are marked *