Trade Review: USD/CAD

USD/CAD

At 8:30 am EST, we saw the US Dollar begin its sell off against the Loonie as Canada released their GDP at 0.3% – higher than expected. The Greenback steadily dropped all the way to the release of the US Consumer Confidence report at 10:00 am EST. The number came out worse than expected at 105.4 versus 108 expected. We saw a sharp move further down, and our short trade entry was triggered. Pt1 was hit easily, as shown in the 10 minute chart above. I wasn’t expecting too much whipsaw action, so I moved my stop on the second half to breakeven. The pair drifted back up and our second lot was closed out at breakeven.

Lot 1: +20 pips
Lot 2: +00 pips
Total: +20 pips