Trade Bulletin: 10th May 2017

Trade Bulletin: 10th May 2017

# SELL USD/CAD

ENTRY: 1.3780
STOP LOSS: 1.3840
TAKE PROFIT: 1.3600

RISK/REWARD: 60 points / 180 points

BROKERS COMMENTARY: BNP PARIBAS

The latest output from BNP Paribas FX Positioning Analysis highlights that FX investors are not positioned for USD appreciation.

In particular, BNPP notes that USD positioning is light, with the market having fully unwound the long USD positions it held at the start of the year.

“With the market pricing only 75bp of Fed tightening until the end of 2018 (versus our expectations of 150bp), in our view there is a lot of scope for USD long positions to be significantly rebuilt,” BNPP argues.

Candlestick diagram showing chanfging position of USD

Be advised that TRADE SET-UP outcomes are unknown!
 Market Timing is subject to unpredictable events that may adversely affect the outcome of each trade.
 Please use appropriate Capital Management.

Trading margined Forex and Derivatives carries a high level of risk, including the risk of losing substantially more than your initial investment. Also, you do not own or have any rights to the underlying assets. The effect of leverage is that both gains and losses are magnified. You should only trade if you can afford to carry these risks. Note that trading derivatives may not be suitable for all type of investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. Please further note that any views or opinions expressed in this post do not necessarily represent those of myFXplan Pty Ltd. Additionally, your call may be recorded for training and monitoring purposes and any advice provided to you on our website or by our representatives is general advice only, and does not take into account your objectives, financial situation or needs. You should therefore consider our PDS and the appropriateness of our advice before making any decision about using our services. myFXplan Pty Ltd is an Authorised Representative (CAR 001241758) of EightCap Pty Ltd (ABN 73 139 495 944). Eightcap is regulated by ASIC (AFSL 391441). This AFSL authorises Eightcap to provide financial services to people in Australia. The information on this email is of a general nature only and is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. myFXplan is not a financial adviser, and does not issue advice, recommendations, or opinion in relation to acquiring, holding or disposing of a margined transaction. We provide general advice only and accordingly you should consider how appropriate the advice (if any) is to your objectives, financial situation and needs before acting on the advice.

1 comment

Leave a Reply