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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Trade of the week: long USD/CAD

This week IG's Chief Market Analyst, Chris Beauchamp, looks at USD/CAD, going long at C$1.3677 with a stop at C$1.36, in expectation of a move higher on US dollar strength.

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(AI Video Summary)

Previous soybeans trading outcome

Chris Beauchamp introduces IGTV's Trade of the Week, reviewing last week's recommendation to go short on soybeans, which remains active with an entry point at 12.37 and a stop at 13.28. Despite a temporary recovery, the soybean trade is expected to continue its pattern.

This week's trading opportunity

The focus then shifts to this week's trade: going long on the US dollar against the Canadian dollar (USD/CAD). Observing recent choppy market behavior and identifying buying interest around the C$1.3600 to C$1.3670 range, a long position is advised with a stop at C$1.36, aiming for reconsideration of highs beyond C$1.3780 and up to C$1.3840.


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