“Don’t piss off the Canadians” is what everyone should have tattooed onto their foreheads as a constant reminder of the power of this great nation and its people. They should consider themselves blessed that that great power came from over here in blighty in the first instance. A point I frequently have to remind Adam of
So Morgan’s was trounced yesterday in USD/CAD and they’ve been cleaned out of their long EUR/CAD position in which they went long at 1.5450 with a stop at 1.5300. Today I’ve noted yesterdays EFX story points to another a long in USD/CAD they’ve been holding from 1.0950 with a stop they’ve now moved to breakeven, still targeting 1.14. I could have sworn that wasn’t on there yesterday but I digress, it’s not all bad news for them.
Today traders report heavy selling in USD/CAD from a London clearer and London office of a US clearer and hedge funds in action in EUR/CAD
Corporate bids were cleaned out at 1.1050 while the specs were filled from 1.1080 down to 1.1065 previously we noted that corps liked a bid under 1.10, so we may hear of those reappearing
1.1020/30 are the next two levels to take note of below and then we have the short term Feb trendline at 1.1013 but I suspect the decent support will be 5 or 10 pips ahead of the big number at 1.10
USD/CAD daily chart 27 03 2014
