Learn, a forex trader must, unlearn and relearn he will.
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Are CAD longs suffering from bet regret?
Ahead of yesterday’s meeting and, despite recent warnings from Band of Canada (BOC) that policy could move in either direction, large speculators remained joyfully net-long the Canadian Dollar at levels not seen since 2012. One dovish meeting and a worrisome monetary policy report later, price action strongly suggests this may have not been a good idea. Oh the wonders of hindsight. After a particular bearish year, USDCAD is showing promising signs of a bullish trend emerging on the daily chart. Following a break of the May 2016 trendline, bullish momentum has increased and range expansion is underway. Furthermore, ... (full story)