Follow the short-term USD weakness
Fundamental
USD: Yesterday's weak US CPI data provided a strong foundation for shorting US dollar, as the miss in inflation reaffirms the dovish view of the Fed. The expectations of todays labor data (more jobless claims) keeps the sentiment bearish for the USD. The seasonals suggest USD weakness.
CAD: Loonie slumped due to big inventories yesterday. I believe there should be some corrective impulse, which is enough to push the pair to the short-term target.
Technical & other
Setup: TC(RTF)
Setup timeframe: 4h
Trigger: 1h
Medium-term: Sideways
Long-term: Up
Min target: N/A
Risk: 0.12%
USD: Yesterday's weak US CPI data provided a strong foundation for shorting US dollar, as the miss in inflation reaffirms the dovish view of the Fed. The expectations of todays labor data (more jobless claims) keeps the sentiment bearish for the USD. The seasonals suggest USD weakness.
CAD: Loonie slumped due to big inventories yesterday. I believe there should be some corrective impulse, which is enough to push the pair to the short-term target.
Technical & other
Setup: TC(RTF)
Setup timeframe: 4h
Trigger: 1h
Medium-term: Sideways
Long-term: Up
Min target: N/A
Risk: 0.12%
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