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Hedging Range Trades

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CLOSED − US Dollar To Correct Strength Against Canadian Counterpart (Forex Hedging Strategy)

Tue, Sep 23 2008, 13:44 GMT
by Daily FX Research Team

DailyFX


In our original posting we proposed the idea of entering a short-hedge at 1.0790 (61.8% Fib resistance) for those who are seeking to enter long at a more favorable price or for those already holding a long position. After triggering our short entry order at the identified resistance level, USDCAD hit our liquidation target at 1.0454 (50.0% Fib support).

USDCAD


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