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USD/CAD

  • #11,921
  • Sep 1, 2017 9:05am Sep 1, 2017 9:05am
Quoting PariCovek
{quote} Stacked the dip at 1.234 with longs, might clear them soon...
Still going... Cleared some, but targeting 1.244 at least.
  • #11,922
  • Sep 1, 2017 9:32am Sep 1, 2017 9:32am
Quoting PariCovek
{quote} Still going... Cleared some, but targeting 1.244 at least.
Cleared... will reassess later.
  • #11,923
  • Sep 1, 2017 3:46pm Sep 1, 2017 3:46pm
What the pair gained in the beginning of the week it gave away in the end. But good to buy in again i think.
  • #11,924
  • Sep 2, 2017 10:04am Sep 2, 2017 10:04am
Good sell opportunity
All Things Are Possible
  • #11,925
  • Sep 3, 2017 3:48pm Sep 3, 2017 3:48pm
Here's a technical outlook on USDCAD.

On the H4 time frame, price action whch had moved southward about 100 pips from an area of technical value or mean, retraced northward during the last session on Friday. Much likely we may see a retracement to the 32.8 Fib zone of the most recent swing low last week Friday from the high of 1.26642 before momentum for a southward continuation materializes. This area is between 1.24340 and 1.24700 (bound in magenta coloured horizontal lines).

I may be wrong. Trade safe and prosper.

KP


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Do your homework, follow the footprints of smart money
  • #11,926
  • Sep 3, 2017 8:29pm Sep 3, 2017 8:29pm
Bearish trend remains, the pair is consolidating losses on the downside. Further consolidation would increase if break below support zone around 1.2330/40.
  • #11,927
  • Sep 4, 2017 9:35am Sep 4, 2017 9:35am
CAD bullish is more than 85%...looking for another shoot above 90% to long usdcad (and short cad currency)

having a close look the PA
COT: The precious data ignored
  • #11,928
  • Sep 4, 2017 12:34pm Sep 4, 2017 12:34pm
Its going to be an interesting week for this pair. Fridays low stopped dead on a support trend line that dates back to 2012 ref weekly. However it still broke major support on the nfp news. Canadas growth is solid and well just say that the US dollar having some issues. which makes for a good long term short. Buuuuuuuuut NK news is putting pressure on the Canadian dollar via CADJPY since everyone needs to buy yen for obvious reasons. I think that if NK news dies down this pair could trip Fridays low just on pure speculation that Canada will produce a surprise rate hike on Wednesday. On the other hand if the NK news continues we could see this pair trickle upward until Wednesdays rate new for the CAD where it will attract a lot of attention.
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Stacking pips since 2002
  • #11,929
  • Sep 4, 2017 2:55pm Sep 4, 2017 2:55pm
Quoting forexjedi
Its going to be an interesting week for this pair. Fridays low stopped dead on a support trend line that dates back to 2012 ref weekly. However it still broke major support on the nfp news. Canadas growth is solid and well just say that the US dollar having some issues. which makes for a good long term short. Buuuuuuuuut NK news is putting pressure on the Canadian dollar via CADJPY since everyone needs to buy yen for obvious reasons. I think that if NK news dies down this pair could trip Fridays low just on pure speculation that Canada will produce...
I believe the US dollar is under equally big pressure because of the same reasons. Besides, the Canadian dollar is in the commodity block and it is in a better position in case of NK escalation, as both gold and oil prices will go up.

Let's see. It's going to be interesting week.
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #11,930
  • Sep 4, 2017 3:40pm Sep 4, 2017 3:40pm
Technically the USDCAD is in a retracement mode. We should not be fooled into committing to a long position, except for 'brief' scalping purpose.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #11,931
  • Sep 4, 2017 4:00pm Sep 4, 2017 4:00pm
Quoting KeenPips
Technically the USDCAD is in a retracement mode. We should not be fooled into committing to a long position, except for 'brief' scalping purpose. Trade safe and prosper. KP
Here's an illustration of the technical update. I am watching the 32.8 Fib zone.

KP


Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #11,932
  • Sep 4, 2017 4:06pm Sep 4, 2017 4:06pm
I think if anyone has a reason this pair will go up in the next few days besides the possible bounce of Fridays low they should post it to help people make the right decision.
Stacking pips since 2002
  • #11,933
  • Sep 4, 2017 4:10pm Sep 4, 2017 4:10pm
Quoting KeenPips
{quote} Here's an illustration of the technical update. I am watching the 32.8 Fib zone. KP {image}
Another really good reason for a short. looks like an obvious continuation forming.
Stacking pips since 2002
  • #11,934
  • Sep 4, 2017 4:16pm Sep 4, 2017 4:16pm
Quoting forexjedi
{quote} Another really good reason for a short.
Thanks mate. It may be difficult to get a good reason for longing USDCAD atm. The current political economy of the US favors Canada, at least regarding the gasoline issue. Add to it the geopolitics involving NK and US/Japan. Of course these are fundamentals but they are a part of successful trading equation.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #11,935
  • Sep 4, 2017 4:23pm Sep 4, 2017 4:23pm
Quoting KeenPips
{quote} Thanks mate. It may be difficult to get a good reason for longing USDCAD atm. The current political economy of the US favors Canada, at least regarding the gasoline issue. Add to it the geopolitics involving NK and US/Japan. Of course these are fundamentals but they are a part of successful trading equation. Trade safe and prosper. KP
well done.
Stacking pips since 2002
  • #11,936
  • Sep 5, 2017 7:56am Sep 5, 2017 7:56am
Quoting forexjedi
{quote} well done.
Lets see about BOC tomorrow...anything can change

Buying dips for another retrace up, just slowly

Time will tell
COT: The precious data ignored
  • #11,937
  • Sep 5, 2017 8:55am Sep 5, 2017 8:55am
Quoting kuroro001
{quote} Lets see about BOC tomorrow...anything can change Buying dips for another retrace up, just slowly Time will tell
Indeed. Nothing can change the fact that there are many buyers between here and 1.23. No doubt it will be the X factor of market orders that will be calling the shots.
Stacking pips since 2002
  • #11,938
  • Sep 5, 2017 10:06am Sep 5, 2017 10:06am
Quoting forexjedi
{quote} Indeed. Nothing can change the fact that there are many buyers between here and 1.23. No doubt it will be the X factor of market orders that will be calling the shots.
usdcad got the ability to go down and down to clears weak longs, then rise up (same thing we saw from 1.24xx to 1.27xx)

Giving a chance with long 1.234x, stop below 1.23xx

I'll check tomorrow depending on PA if i should widen or tighten it
COT: The precious data ignored
  • #11,939
  • Sep 5, 2017 3:13pm Sep 5, 2017 3:13pm
Quoting MrPresident
looks like USD/CAD might continue its bearish trend Canada had a good GDP and maybe the bank will raise interest rates soon poor NFP will accelerate the move below 1.242
looks like a good sell opportunity this week and maybe the pair will visit the 1.21 region
Don't Worry Be Happy
  • #11,940
  • Sep 5, 2017 10:52pm Sep 5, 2017 10:52pm
emicro forex futures canadian dollar
the red lines are weekly support resistance levels drawn by using a line graph; then I switch to candles

the one thing i like most about trading futures is that I am trading on a regulated exchange; so no broker funny business
BUT.....liquidity is often light.........one gets good volatility during news events tho
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