It looks like there is some strength in the USD happening (or perhaps it has already finished happening) at this point. Am I vindicated?
Who knows. As I've seen posted here and there a few times, everyone trades alone. You have your convictions, systems or maybe even a dartboard, and you play as your guidance and resources dictate.
However, recent weakness in the USD does make it hard to determine where the real bottom may be. Is it at 0.9650, 0.9600, or 0.9500? Have we hit it? Only time will tell if we have truly found the bottom or not.
As I was saying not too long ago, eventually we will be at the bottom of what will become a large uptrend in the USDCAD. Presumably, at some point, we'll be back in a position where the exchange rate hits 1.0000, 1.0500, 1.1000 or more. Sometimes things move quickly, but it might take years.
What to do?
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