It seems that some of the bigger professional players have been having a ‘bet’ on this pair and have been putting on sizeable shorts both in spot market and via option plays.
- Tight trailing stop-loss buy orders reported above 1.3050
- Heavier stops above 1.3150
- Stops also noted on the downside through 1.2870 in particular (the 2012 low made in January).
I’m guessing that the downside stop-loss sell orders will be CTA-types adding to existing shorts. The CAD pairs don’t usually do much during the Asian trading session.
