(False) Breakout & Trend Reversal Strategies?? 12 replies
Trend Reversal Confirmed? 0 replies
POLL- Trend Reversal or Retracement 0 replies
Are we close to TREND REVERSAL? 5 replies
DislikedYou know what they say, it is when everyone finds out about the trend that it turns around. You can't have average joes coming to a party and getting free pickings ... this short term trend will likely be over before the end of June. Who know what happens after a few hundred pips of correction though. I wont be holding my breath.Ignored
Disliked10:53USD/CAD: We haven't seen a curency pair in need of a respirtaor this bad in quite a long time...Most supports to the downside are psychologicl in nature or option related
I say BRING'EM ONIgnored
DislikedWhen USD/CAD goes down like this then US products and goods have lower price in Canada, this will harmful for them ...Ignored
DislikedThe average joe who finds out about this trend and follows it is not an average joe. If you show this trend to someone new at trading, do you think he's more likely go with the trend or go against it?Ignored
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(CP)
TORONTO (CP) - The Canadian dollar will be worth as much as the U.S. greenback by the end of the year, CIBC World Markets economists predict (TSX: CM.TO).
Friday's report cites an expected rise in Canadian interest rates and stronger-than-expected economic growth, along with hot commodity prices and an "avalanche" of corporate takeovers that require foreign acquirers to deal in Canadian dollars.
"With the national jobless rate plumbing 30-year lows and core inflation now bobbing above the Bank of Canada's target range, our earlier assumption of the Bank of Canada intervening against a further rise in the Canadian dollar with rate cuts no longer seems tenable," says CIBC World Markets chief economist Jeff Rubin.
In fact, he says the central bank will likely welcome a further rise in the currency, which was trading Friday morning at a three-decade high of over 93.7 cents US.
"The bank has already indicated that it expects to raise interest rates shortly," Rubin said, referring to Tuesday's Bank of Canada statement holding rates steady for now but warning of the likelihood of a tightening soon.
Meanwhile, the U.S. Federal Reserve looks set to cut rates late in the year, reducing the attractiveness of the American dollar, Rubin says.
"Between red-hot commodity and energy markets and huge capital inflows associated with an avalanche of (merger and acquisition) deals, the Canadian currency has plenty of octane left to take a concerted run toward parity against the greenback and hold it into at least the first quarter of 2008."
DislikedThe average joe who finds out about this trend and follows it is not an average joe. If you show this trend to someone new at trading, do you think he's more likely go with the trend or go against it?Ignored
DislikedYou know what they say, it is when everyone finds out about the trend that it turns around. You can't have average joes coming to a party and getting free pickings ... this short term trend will likely be over before the end of June. Who know what happens after a few hundred pips of correction though. I wont be holding my breath.Ignored
DislikedYou know what they say, it is when everyone finds out about the trend that it turns around. You can't have average joes coming to a party and getting free pickings ... this short term trend will likely be over before the end of June. Who know what happens after a few hundred pips of correction though. I wont be holding my breath.Ignored
DislikedI've been reading some of this thread (though not all - it's too long) and I am falling on the floor laughing at the foolish trades that people such as amylase have made. The usd/cad has basically been going straight down for god knows how long... and I find, despite that FACT, that some people have still ACTUALLY been trying to go long????? Even worse, they CONTINUED to go long even though the loonie kept dropping! This is like someone standing in the middle of the highway in rush hour traffic, getting hit by a car, and then getting back up to stand in the highway again in "hope" that the next car will miss them. Just insane.
Yes, if you keep going long then some day you will be right. I just hope you are rich enough to make it to the point when you ARE "right".
amylase, I'm pulling for you on that long of the usd/cad! BWAAHAAHAAAA!!Ignored