Attachments: USD/CAD

USD/CAD

#12,261
Oct 18, 2017 7:43am Oct 18, 2017 7:43am

raklian
| Joined May 2017 | Status: Trader | 915 Posts

Well, well... down we go. Canadian manufacturing news better than expected and US house sales/permits news more negative than expected.

This news does not materially affect long term fundamentals but it's opening the door to the downside to 1.20XX at best.

#12,262
Oct 18, 2017 8:19am Oct 18, 2017 8:19am

Venomousssss
Joined Oct 2015 | Status: Trader | 1,125 Posts

Added shorts at 1.2512

#12,263
Oct 18, 2017 10:22am Oct 18, 2017 10:22am

Venomousssss
Joined Oct 2015 | Status: Trader | 1,125 Posts

Sniping.

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#12,264
Oct 19, 2017 5:38am Oct 19, 2017 5:38am

dianajs
| Joined Dec 2015 | Status: Trader | 868 Posts

USD/CAD has a double top at 1.2597 and 1.2590, I think there will be a pullback from that zone and a drop to 1.2400. I have already shorted.

#12,265
Oct 19, 2017 8:38am Oct 19, 2017 8:38am

DwainUK
| Joined Feb 2016 | Status: Trader | 476 Posts

1.245 was very strong support. My Weekly Fibonacci is also there so it rebounced back up again

#12,266
Oct 19, 2017 12:25pm Oct 19, 2017 12:25pm

arigoldman
| Joined Oct 2014 | Status: Trader | 915 Posts

Good move to the downside, somehow not strong enough though.

#12,267
Oct 20, 2017 4:04am Oct 20, 2017 4:04am

RKarRain
| Joined Mar 2017 | Status: Trader | 15 Posts

Please give me suggestion. I want to take short position right now at the price below 1.253. TP was 1.241... and till 1.232.. Because of, NAFTA meeting was moved to March of next year. And also, US Manufacturing going high , Crude Oil inventories and Natural gas storage decrease. It's mean US need to buy more CAD. Tonight Fundamentals will show the market direction. But i guess to the downside. If you have upside idea, please give me suggestion.. Thanks.

#12,268
Oct 20, 2017 4:35am Oct 20, 2017 4:35am

mamalujo
| Joined Aug 2012 | Status: Trader | 643 Posts

Quoting RKarRain

Disliked

Please give me suggestion. I want to take short position right now at the price below 1.253. TP was 1.241... and till 1.232.. Because of, NAFTA meeting was moved to March of next year. And also, US Manufacturing going high , Crude Oil inventories and Natural gas storage decrease. It's mean US need to buy more CAD. Tonight Fundamentals will show the market direction. But i guess to the downside. If you have upside idea, please give me suggestion.. Thanks.

Ignored

CAD data out in 3 hours. Stay put.

#12,269
Oct 20, 2017 7:54am Oct 20, 2017 7:54am

Nicholishen
Joined Jul 2005 | Status: zzzzzzzzzzzzzzzzzzzzzzzzz zzzzzzzzzz | 1,261 Posts

This thread is awful quit for such a huge event... hope you guys stayed safe and nobody lost a head. For those that missed this bar here is the replay.

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#12,270
Oct 20, 2017 8:25am Oct 20, 2017 8:25am

J Mark
| Joined Feb 2012 | Status: Trader | 67 Posts

Fine here.

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#12,271
Oct 20, 2017 8:45am Oct 20, 2017 8:45am

new_member
| Joined Jan 2012 | Status: Trader | 140 Posts

Knock again....is it form triple top or break resistance...will see...

#12,272
Oct 20, 2017 8:49am Oct 20, 2017 8:49am

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

Quoting RKarRain

Disliked

Please give me suggestion. I want to take short position right now at the price below 1.253. TP was 1.241... and till 1.232.. Because of, NAFTA meeting was moved to March of next year. And also, US Manufacturing going high , Crude Oil inventories and Natural gas storage decrease. It's mean US need to buy more CAD. Tonight Fundamentals will show the market direction. But i guess to the downside. If you have upside idea, please give me suggestion.. Thanks.

Ignored

From the sentiment index, bullish CAD is 60%...meaning it could easily go above 1,30 before correcting but only time will tell

COT: The precious data ignored

#12,273
Oct 20, 2017 8:52am Oct 20, 2017 8:52am

raklian
| Joined May 2017 | Status: Trader | 915 Posts

Quoting kuroro001

Disliked

{quote} From the sentiment index, bullish CAD is 60%...meaning it could easily go above 1,30 before correcting but only time will tell

Ignored

First, it needs to break through the important 1.2600-1.2650 resistance level.

#12,274
Oct 20, 2017 9:01am Oct 20, 2017 9:01am

dianajs
| Joined Dec 2015 | Status: Trader | 868 Posts

Quoting raklian

Disliked

{quote} First, it needs to break through the important 1.2600-1.2650 resistance level.

Ignored

I think it will manage to rally above 1.2600. 1.2650 is another matter.

#12,275
Edited 11:11am Oct 20, 2017 11:00am | Edited 11:11am

raklian
| Joined May 2017 | Status: Trader | 915 Posts

Quoting dianajs

Disliked

{quote} I think it will manage to rally above 1.2600. 1.2650 is another matter.

Ignored

Yeah, I think the initial enthusiasm that the US Senate passed a budget will dissipate at around that level. Heck, the CAD CPI is actually growing compared to last year and the retail sales figure is normally transitory so Bank of Canada is going to remain hawkish but more moderately so.

Now then we will wonder if there is even going to be a tax reform at all, not to mention a smooth reconciliation between the budget bills between the Senate and House.

So, the price will bounce to the downside from 1.2650 or 1.3000.

#12,276
Oct 22, 2017 10:40pm Oct 22, 2017 10:40pm