2021.04.13 CADUSD Futures Strategy Update
2021.04.13 CADUSD Futures Strategy Update
Readers of the 2021.03.30 CADUSD Futures Strategy Update newsletter recall how I added to the June contract and entered into a long September position.
As you can see in the CME Practice Account Details (which I use to track this newsletter's futures strategy) below, we continue to hold a long position in the June Contract.
Referencing the Canadian Dollar Futures chart below.
We see how buyers came in at the green 50 Day Moving Average.
Price is also consolidating above the purple Volume-Weighted Average price from the swing high.
I am interested in adding to my Long CAD positions above the green dashed line of 0.79850 with a stop below the red dashed line at 0.79080.
This is the same as shorting the USDCAD pair.
I am looking forward to seeing how these trades play out.
Will the price reverse from this level?
Time will tell.
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