BOC this morning cut overnight lending rates to .50% as expected. USD/CAD rallies 1 cent on the news tho.
I think this move is beginning to run on fumes. Will short if it fails 1.2940 again or breaks 2900 with a target of 2750.
Ouch, that hurts - especially in the hindsight. Quadruple top appears in place on the daily. Further downside all but guaranteed.