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USD/CAD

  • #12,761
  • Mar 8, 2018 4:13pm Mar 8, 2018 4:13pm
maybe still bullish ....
Don't Worry Be Happy
  • #12,762
  • Mar 9, 2018 6:31am Mar 9, 2018 6:31am
The Canadian dollar depreciated this week against the USD and EUR. More way to go imo.
  • #12,763
  • Mar 13, 2018 10:10am Mar 13, 2018 10:10am
this pair is not my friend today and BOC Poloz destroyed CAD with his speech, it went straight to 1.294 from 1.285 lol

but I don't know if it can hold above 1.29 since Canada is exempt from the tariffs
Don't Worry Be Happy
  • #12,764
  • Mar 14, 2018 2:19pm Mar 14, 2018 2:19pm
I hold a bearish position for the USDCAD and look forward to his return to the region of C $ 1.2720.

The Bank of Canada continues to take a cautious stance, promising an increase in the rates of "over time". In good condition, an average of 0.07% in April and 0.27% by July). I am waiting for the fall of the US-Canada bonds and the USDCAD decline in this medium term.

The bullish momentum is weakening, and the DMI indicators confirm a probable change of trend. Within the last wave of growth, the pair rested on the most important resistance C$1.2950 and could not break above. On the 4-hour chart, a double top was formed, the technical realization of which is the area C$1.2720.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 192 KB
  • #12,765
  • Mar 14, 2018 2:39pm Mar 14, 2018 2:39pm
Looking on the weekly chart, there seems to be heavy resistance right about where we are, now.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-03-14 at 1.34.11 PM.png Size: 56 KB
  • #12,766
  • Mar 14, 2018 2:54pm Mar 14, 2018 2:54pm
In deed a resistance zone. It's also around the 50 Fib retracement of the downward swing from the high of April 2017 to the low of September 2017.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Tech_Update_W1_Mar._14,_2018.png Size: 43 KB


Quoting MisterWhite
Looking on the weekly chart, there seems to be heavy resistance right about where we are, now. {image}
Do your homework, follow the footprints of smart money
  • #12,767
  • Mar 15, 2018 11:24am Mar 15, 2018 11:24am
Looks like we broke through.
  • #12,768
  • Mar 15, 2018 2:25pm Mar 15, 2018 2:25pm
Quoting MisterWhite
Looks like we broke through.
Ill be looking at 1.32000 for shorts
Price is King
  • #12,769
  • Mar 15, 2018 2:51pm Mar 15, 2018 2:51pm
Very much likely that area could give a southward turnaround soon. Consider the 61.8 Fib zone in the attached D1 time frame (bound by magenta coloured lines). Although I am not trading this pair yet, that zone is likely to attract my attention next week.

Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_D1_Tech_Update_Mar._15,_2018.png Size: 48 KB


Quoting ebecerra85
{quote} Ill be looking at 1.32000 for shorts
Do your homework, follow the footprints of smart money
  • #12,770
  • Mar 16, 2018 3:20am Mar 16, 2018 3:20am
There is massive accumulation across monthly, we will see a lot higher than 1.32
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADMonthly.png Size: 61 KB
  • #12,771
  • Mar 16, 2018 2:22pm Mar 16, 2018 2:22pm
Hey guys this isn't a forecast, I just want to know what you guys would have done. So just consider the price in the highlighted area. As you can see it fails to break through resistance @ 1.28907 3 times and on the third would have gone for a short position and my initial target being the support @ 1.27035 for about 130 pips. BUT my question is as you can it continues down and breaks that support for a very good profit my question is would you have scaled some of your position and let the rest continue down and if so how much..or would have just closed up shop at the initial target??? Thoughts please...
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-03-16 at 19.17.45.png Size: 142 KB
  • #12,772
  • Mar 17, 2018 4:54pm Mar 17, 2018 4:54pm
Quoting TambienSolo
Hey guys this isn't a forecast, I just want to know what you guys would have done. So just consider the price in the highlighted area. As you can see it fails to break through resistance @ 1.28907 3 times and on the third would have gone for a short position and my initial target being the support @ 1.27035 for about 130 pips. BUT my question is as you can it continues down and breaks that support for a very good profit my question is would you have scaled some of your position and let the rest continue down and if so how much..or would have just...
You're using a MA and you mention three shorts, so I'm thinking you're a trend trader. Trading the trend, your win rate will probably be on the smaller side, so you'll need to let your winners run to make up for your losses.

My opinion is that trend traders should focus on getting as much as they can out of their winners and that taking partial profits in the long run will hurt their account.
  • #12,773
  • Mar 18, 2018 4:12pm Mar 18, 2018 4:12pm
Ambush n termination spots of big wheels within bigger wheels.
Attached Image (click to enlarge)
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  • #12,774
  • Mar 18, 2018 4:19pm Mar 18, 2018 4:19pm
As the present location of price action is around the 61.8 Fib retracement zone of the downward swing from the high of May 2017 to the low of September 2017, I will stay on the sideline until there is a southward pullback of price action or a northward break of the horizontal resistance around 1.31720 on at least a four-hourly closing basis.

KP
Do your homework, follow the footprints of smart money
  • #12,775
  • Mar 18, 2018 5:31pm Mar 18, 2018 5:31pm
Looking to go short soon.
  • #12,776
  • Mar 19, 2018 4:29am Mar 19, 2018 4:29am
Dollar demand remains strong, the pair broke above 1.31 level, next target will be at 1.32 handle.
  • #12,777
  • Mar 20, 2018 1:41am Mar 20, 2018 1:41am
Quoting csc2009
Dollar demand remains strong, the pair broke above 1.31 level, next target will be at 1.32 handle.
Im still bullish on the pair, ill be buying any pulls back @ 1.3000~1.3050
Price is King
  • #12,778
  • Mar 21, 2018 4:01pm Mar 21, 2018 4:01pm
Dam dollar disappointing me, win some lose some. GL All.
Price is King
  • #12,779
  • Mar 22, 2018 3:30pm Mar 22, 2018 3:30pm
Anybody long on USD/CAD?? Its currently at support @ around 1.28907 , shows signs to bounced of reversal
  • #12,780
  • Mar 22, 2018 3:47pm Mar 22, 2018 3:47pm
This is a pair I'm currently watching. It's now heading towards an area I would like to look for a southward turnaround (bound by magenta coloured lines in the attached H4 chart).

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_H4_Tech_Update_Mar._22,_2018.png Size: 35 KB
Do your homework, follow the footprints of smart money
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