ridethepig | CAD Market Commentary 2020.04.08
Updated
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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