Long GBP/CAD has been an even better trade due to a small positive carry. GBP is probably beginning to look overextended at this point but the bottom line is CAD is going nowhere IMO.
Was just looking at that (GBP/CAD). The market is heavily long both GBP and EUR against CAD. Anyone know where I can find CoT data on those pairs?
http://www.bloomberg.com/apps/news?pid=20601109&sid=aEuCew4z8xFk&refer=home http://www.sharewatch.com/story.php?storynumber=260456
It truly resembles the EUR/JPY...I do not see any correlation whatsoever..it just reminded me of that manipulated pair... Please excuse the interupption without anything meaningful to contribute...I hope your not on the wrong side... Michael B.
STILL Looks very bullish to me, approaching a major resistance level. Considering the way a monthly chart looks, I would think that people selling that resistance have minimum chances. I reckon price will blow through that level.
No, not on the wrong side. Got stopped out weeks ago and since then I cannot re-enter with RSI pushing 90...heh.. I understand EUR/JPY's move (insane as it is) but against CAD? Just ridiculous.