October 15 Forecast Comments
Loonie is on a pretty good run...be aware of BOC Announcement. As I am in Canada, the word on the street is rates will remain unchanged. Also, remember as oil prices rise so do commodity currencies like the Loonie (Canadian Dollar). They are talking about $100 a barrel oil by the end of the year and the possibility of $1.05can vs the USD. Cable (British pound) goes up when oil does, and the Yen goes down when oil rises.
One of my strategies for the forecasts:
The other day I took the gbp/usd to go up...It then tanked on me about 70 pips for a day or so...I hung on to it as my faith in the forecast tells me it may take a day or two....Woke up today to a 35 pip profit. So I have hung on to it to see what the forecast would say tonight. It says up (strong). So I am holding on to it and have moved my profit to tonights forecast, while keeping a stop on my old profit position. I will try and milk out extra pips while protecting my profits.
Remember, many ways to skin this cat. Protect your profits and go as deep as you can.
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