- Short USD/CAD = biggest risk here. Understatement to say this has been a difficult trade. 2 key chartpoints to watch out for.
- 0.9926 = on weekly chart, 5th week since we first broke and failed below this critical level (now 0.9868).
- 0.9827 = low 2 weeks ago = low of current down leg. A break below should be good for a fresh strong push to new lows.
- USD/CAD has underperformed commodities like oil lately. Perhaps its time to catch up.
- Far away is 0.9056 = perhaps all time low (my chart only goes back to 1975). This should be the technical target.
- GTC sell stop-in to increase short on break below 0.9827.
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