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Trade Ideas

USD/CAD Channel Up Sets the Scene for a Intraday Reversal

The loonie has been losing ground against the U.S. Dollar as the 0.9522 low seems to have stirred awake USD/CAD bulls. Crude oil has stagnated below 110/bbl and this could be fueling some of the loonie pessimism but the case for bullish greenback cannot be made here and that’s why I see a push lower…resuming the overall downtrend.

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EUR/USD: Has the Trend Reversed?

What goes up, must come down. I think Alicia Keys wasn’t just singin’ about cheating ex-boyfriends in her song Karma. Looking at yesterday’s sharp euro sell-off, it seems to me that traders are tryin’ and desirin’ to go back to the dollar!

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Real generosity toward the future consists in giving all to what is present.Albert Camus