USD/CAD | Page 603 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/CAD

Similar Threads

EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 15 replies

Milking 4 pairs AUD/NZD, EUR/GBP,NZD/CAD & AUD/CAD for a living 38 replies

EUR/USD, AUD/USD, and CAD/USD ready to move up 2 replies

USD/JPY - USD/CAD any thoughts? 4 replies

CAD export / USD/CAD price 3 replies

Attachments: USD/CAD
Exit Attachments

USD/CAD

  • #12,041
  • Edited 9:35am Sep 8, 2017 7:26am | Edited 9:35am
I don't trade this pair but I always liked it and I have eyes on it for more than 9 years.

There are fundamentals that drive this pair these days:

1. NAFTA renegotiations and Trump is looking for cheap $$
2. BOC is on the progressive rate hike
3. FED made the rate hike conditional. Inflation is far from FED target (2%)
4. Korea peninsula crisis and soon middles east (IRAN) crisis will make $ even weaker

1.195 will most likely happen in a few days
1.16 is likely in a few weeks

If you want to carry less risk and you are in love with CAD, trade AUDCAD.
  • #12,042
  • Sep 8, 2017 7:31am Sep 8, 2017 7:31am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2017-09-08-08-31-16.png Size: 175 KB
Focus
  • #12,043
  • Sep 8, 2017 7:37am Sep 8, 2017 7:37am
selling USD/CAD and NZD/CAD
Don't Worry Be Happy
  • #12,044
  • Sep 8, 2017 7:42am Sep 8, 2017 7:42am
seems it will be going up :-(
making money is easy in forex, losing money is even easier...
  • #12,045
  • Sep 8, 2017 7:51am Sep 8, 2017 7:51am
But why is it going up, the data was good to strengthen the currency?
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #12,046
  • Sep 8, 2017 7:58am Sep 8, 2017 7:58am
Quoting OhComeOn
But why is it going up, the data was good to strengthen the currency?
Yea it makes no sense especially given how weak the US$ is overall + good CAD data, this is another first I've seen in my almost 6 years of trading
TE started 6/4/19
  • #12,047
  • Sep 8, 2017 8:04am Sep 8, 2017 8:04am
Quoting OhComeOn
But why is it going up, the data was good to strengthen the currency?

The way I look at it......if it were that simple (you know the rest)...............
Its their plan for the future.........the chart said go up on the 4hr before the report (my strategy painted a bullish fractal)



I know my charts are all different......im testing multiple strategies.....
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (37).png Size: 62 KB
Focus
  • #12,048
  • Sep 8, 2017 8:06am Sep 8, 2017 8:06am
Quoting Marz30
{quote} Yea it makes no sense especially given how weak the US$ is overall + good CAD data, this is another first I've seen in my almost 6 years of trading
No clue, friday movement often to wild and doesnt make sense, maybe profit taking already started....
making money is easy in forex, losing money is even easier...
  • #12,049
  • Sep 8, 2017 8:09am Sep 8, 2017 8:09am
Quoting mrstblefx
{quote} The way I look at it......if it were that simple (you know the rest)............... Its their plan for the future.........the chart said go up on the 4hr before the report (my strategy painted a bullish fractal) {image}
this data does not support third hike in a row. at some point in the day it will give up and start moving towards 1.22. my guess is once usdjpy crossed 107.97
  • #12,050
  • Sep 8, 2017 8:09am Sep 8, 2017 8:09am
Quoting Marz30
{quote} Yea it makes no sense especially given how weak the US$ is overall + good CAD data, this is another first I've seen in my almost 6 years of trading
???
I see this sh!t every week!!
it's normal stop hunt + Friday.



Give it time..... 1.20 coming. Sell 2135-55 area.
Beware of robber banks (RB), bad advisors.
  • #12,051
  • Sep 8, 2017 8:10am Sep 8, 2017 8:10am
added more shorts.
  • #12,052
  • Sep 8, 2017 8:16am Sep 8, 2017 8:16am
Quoting Not-KPMG
{quote} ??? I see this sh!t every week!! it's normal stop hunt + Friday. Give it time..... 1.20 coming. Sell 2135-55 area.
no, it's called "profit taking" when the sellers buy causing the pair to go UP
Don't Worry Be Happy
  • #12,053
  • Sep 8, 2017 8:16am Sep 8, 2017 8:16am
put buy limit @1.2080
making money is easy in forex, losing money is even easier...
  • #12,054
  • Sep 8, 2017 8:25am Sep 8, 2017 8:25am
The drop is coming. It's a matter of when not if.
  • #12,055
  • Sep 8, 2017 8:27am Sep 8, 2017 8:27am
I love your sense of humor. Truth is, we need the strategic use of both fundamentals and technicals to do well as a trader.

Trade safe and prosper.

KP

Quoting mrstblefx
{quote} Lol.........I met a 100 percent technical trader..........I like knowing why charts move.........lol.........I make my decisions ultimately on charts tho...........lol......... And check out this funny looking Canadian dollar futures chart........man o man..... {image}
Do your homework, follow the footprints of smart money
  • #12,056
  • Sep 8, 2017 8:35am Sep 8, 2017 8:35am
KP, so I can grow as a trader, how do I find these reversals?

I made an error last night that had me taking less profit that I thought I would (cheers for in-profit SLs). I would rather have taken the profit I saw before I went to sleep, waited for the reversal to finish and take more profit later.

That is, I could have made $70, but I made $10 because I can't read reversals yet.
  • #12,057
  • Sep 8, 2017 8:42am Sep 8, 2017 8:42am
You've done well mate. Better to make the 10 than lose the 70. It was good you took the profit. As long as you do a thorough market analysis, plan your trade based on it and trade your plan efficiently you will make progress as a trader. Further progress will come with learning and practice.

Trade safe and prosper.

KP

Quoting Skeptic
KP, so I can grow as a trader, how do I find these reversals? I made an error last night that had me taking less profit that I thought I would (cheers for in-profit SLs). I would rather have taken the profit I saw before I went to sleep, waited for the reversal to finish and take more profit later. That is, I could have made $70, but I made $10 because I can't read reversals yet.
Do your homework, follow the footprints of smart money
  • #12,058
  • Sep 8, 2017 9:01am Sep 8, 2017 9:01am
Any reason for usd cad going up!!!!!
very good news for cad
  • #12,059
  • Sep 8, 2017 9:06am Sep 8, 2017 9:06am
Quoting forexlover20
Any reason for usd cad going up!!!!! very good news for cad
Forget completely about Loonie fundamentals. If you have traded USDCAD on fundies for the last six months (as I have...), you have been getting burned left and right.

Forget raising rates. Forget unemployment. Forget the price of oil.

USDCAD is simply trading as the mirror of EURUSD. What Euro does, go the other way.

  • #12,060
  • Sep 8, 2017 9:12am Sep 8, 2017 9:12am
Quoting forexlover20
Any reason for usd cad going up!!!!! very good news for cad
It's not just about news, friend.

Rates are "okay" and the strong movements for the week have been made. Psychological resistance has been hit, so the pair is reversing. Don't worry, there's plenty of weak USD news to drive the pair down.

I'm pretty confident this pair will break 1.2000 and hit even lower. There are LOADS of unfilled orders that were made this week, so a little retracement was bound to happen.

I'm not dedicated to this pair, except for this big benchmark trade that I'm seeing.
Monitor your risk, okay?
6 traders viewing now