Posted by fredsaid on 29th of Apr 2021 at 11:09 pm
USDCAD has been tanking. I have a vested interest in this
trade since I need to turn about 75K US into CAD so I started
selling it short at $1.28 It's at $1.227 now and taking on
more water this evening . It's been on a steady decline
exceeding the USD overall decline. I think we're getting
close to a rubber band bounce like 1500 to 2500 basis points
(similar to VIX BB) and may be last chance to sell the USD for some
time when we get that bounce. Does anyone think the greenback
can go up in the face of rising commodity costs, rising oil,
inflation, etc - especially against the CAD ? I don't see
it.. I think we can get to $1.15 so if we get up to $1.25 again
take the trade and double down as and if it goes up !
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USDCAD has been tanking. I
Posted by fredsaid on 29th of Apr 2021 at 11:09 pm
USDCAD has been tanking. I have a vested interest in this trade since I need to turn about 75K US into CAD so I started selling it short at $1.28 It's at $1.227 now and taking on more water this evening . It's been on a steady decline exceeding the USD overall decline. I think we're getting close to a rubber band bounce like 1500 to 2500 basis points (similar to VIX BB) and may be last chance to sell the USD for some time when we get that bounce. Does anyone think the greenback can go up in the face of rising commodity costs, rising oil, inflation, etc - especially against the CAD ? I don't see it.. I think we can get to $1.15 so if we get up to $1.25 again take the trade and double down as and if it goes up !