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AUD/CAD Big Trade 04.11.2016 +50
4/12 – Close AUD/CAD at market 9800. Will reload some type of CAD trade later
4/12 – AUD/CAD Game Plan – Because there’s a good chance that tonight’s Chinese trade numbers could show improvement (after last month’s drop and rise in PMI manufacturing) we are either going to flip out of AUD/CAD into USD/CAD a few hours before the data OR we will close/take profit on AUD/CAD and reload later. The data is generally released between 9pm-10pm NY Time.
4/12 – Order to Sell AUDCAD at 0.9850 TRIGGERED
Place Order to Sell AUDCAD at 0.9850
Stop at 1.0050
After last week’s strong employment report, we have every reason to believe that the Bank of Canada will be more optimistic especially given the recovery in oil prices since their last meeting. So if we are given the opportunity, we would like to buy CAD on a dip and are trying to do so through USDCAD or AUDCAD – if one of these orders trigger, we will cancel the other