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USD/CAD: Looking to add short position - FXWW

FXStreet (Bali) - After a spectacular run to the upside, Sean Lee, Founder at FXWW, keeps his strong conviction that USD/CAD is due to see renewed selling interest as the rest of the market remains irrationally bullish, he notes.

Key Quotes

"I remain very bearish on USD/CAD for the simple reason that the rest of the market is irrationally ueber-bullish."

"Pairs like GBP/CAD have been favourite positions for months with professional traders and if/when they turn there will be a massive clean-out."

"Overnight price action has done nothing to change my view with a sharp and unrelenting 70 pip dip. I’m already short and am looking for opportunities to add to the position (although not during Asian trade when it never moves)."

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EUR/JPY lacking conviction on moves higher

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