USD/CAD

*holds kuroro001's hand and jumps into the flames*

*Hope the jump into flames is not going to hell

immediately changed my bias...the pressure is so strong and if 1.2460 breaks..it could sail south. im out on this long before i blow my high risk account.

careful around this level 1.1246 or so or NOW , take care , fontu

Back in...in gonna blow it by 2nd guesses

consumer confident may have gave the buyers the edge they needed.. lets seee

Buy USDCAD Right now .. TP 1.26400
The Dollar will up in this week and next weeks. Last weeks they just tried to pulled up gold price to recover not to fall down gold price due to increase of interest rate.

=) Really ? Do you have some magic globe in wich you see the future ?

The trend is down, a lower low confirm the bears took control of the trend. A strong breakout to the downside is ahead.

Why one should buy now ?

I'll be surprised if someone start to short from these levels. If you don't want to go long, at least stay out of the market til tomorrow 2pm.

Me too. TP 1.261

I don't have magic power to estimate future. I just try to combine fundamentals and technical analysis. The down trend can be down always.. ?? If you say yes, please take care of your money. we can't limit the economy of a country by trend line and technical tools, they can tell us only range of market, safe zone ( Just like as engine ) . Fundamentals are main fact to move the market direction , ( Like as steering ) . But i can't tell surely. Just my Idea. If you can tell surely. Do yourself bro :-)

Im in for a quick long

the reason people would short this area is because the trend has pushed close to a new low at 1.2460. AND IF the low is broken...a large breakout down could happen..making the risk very worth it.

Agreed! A wise thing to do; better wait for retracement of price action to an area of value or let price action show by close of day a turnaround signal.

Trade safe and prosper.

KP

I am long as well, but I see a move down to around 1.23100-200, before a retrace. So better hedge those longs

we not sure what will happen in future. Some are trying to buy , some are trying to sell. I like to take long, but some like to take short. So I took Long position 1 Lot and Short 1 Lot. If market up , i will close short position and take new long position. If market down, I will take new short position but i will not close Long position cause of Market can't down always. when market found the support , it will get up again. At that time , i will close 2 short position and take profit. Losses of long position will reduce slowly. This is one of my risk Management.

Weekly USDCAD...looks like it's due for a jump...

An observation I have about this thread.

Many posts which are simply opinions , which is fine IF this thread is strictly about opinions.

Very little educational material on this thread , thus , how can we all HELP one another if all we are doing is posting opinions.

USD/CAD is behaving very strange all of a sudden. This pair is having a very difficult time to sustain a move below 1.2500
RSI oscillator on shorter time frames is displaying little or no momentum shift , in fact this morning it dipped below the 50 line without any movement in price action !!!
Today is a BIG DAY with the FED RATE this afternoon !!! Who knows if today's announcement will cause any significant price movement with this pair !

President Trump stated that the US needs "a little luck" in order to stem its Trade Deficit. I am from Canada. I can tell you that our economy is nothing what STATSCANADA says it is !!! CANADA should have never had a rate hike recently !! No or very low paying jobs , OIL , which accounts for 15% of our GDP is still in the toilet , and our Prime Minister put our Country WAAAY further into debt with his Federal Budget. Our population is aging , our birth rate is historically low. Many married couples are choosing NOT to have children , can't afford it !!

With such a massive drop in the price of this pair in such a short time , I am convinced that the US Government has purposely manipulated this currency pair. This speaks very well for US exports to its LARGEST TRADING PARTNER IN THE WORLD , CANADA !!!!

One of the best indicators I have ever seen was is known as the PET-D TOOL developed by Steven Primo. Some USC math students figured it out and it is posted in many places on the web. You plot 2 EMA's. One is a 9 period and the other is a 5 period. When the 5 period crosses the 9 period EMA , price will ALWAYS FOLLOW this line , on any pair and on any time frame. Check it out for yourselves !!! READ THIS STATEMENT AND ADHERE TO IT : FOLLOW THE MARKET , NO ONE CAN PREDICT WHAT IS GOING TO HAPPEN ON THE RIGHT SIDE OF ANY CHART !!

Respectfully ,
GreenEarth

Well said!

I live in US and travel to Canada a lot. As you said it seems US is manipulating both USDCAD and MXNUSD for the purpose of addressing the trade deficit and more importantly these three countries soon are going to draft a new trade agreement. Cheaper currency is a big win for the exporting party.