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USD/CAD

  • #13,141
  • Jun 22, 2018 9:37pm Jun 22, 2018 9:37pm
Quoting D3v1lsh0ot3r
So does this means usdcad will keep going down?
i don't pu a lot of faith in inter market relationships. Is is sometimes hard to square all the stories and relationships
Stay low, Go fast - No luck, All skill
  • #13,142
  • Jun 23, 2018 4:30am Jun 23, 2018 4:30am
I think it has to do with the break of the weekly trendline, resulting in a huge stop loss triggering by Canadian News being much worse than expected. Now the market needs to calibrate itself and then decide if it will continue in a new trend - being up - or trade beneath the trendline. I guess there is a higher probability of a new uptrend for now.
  • #13,143
  • Jun 23, 2018 12:28pm Jun 23, 2018 12:28pm
Short to medium term outlook
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  • #13,144
  • Jun 24, 2018 11:00am Jun 24, 2018 11:00am
https://www.reuters.com/article/us-o...-idUSKBN1JJ07G

looks like USD/CAD might rally past 1.33, OPEC reached a decision, Canadian fundamentals are poor, USD offers a better deal due to interest rates
Don't Worry Be Happy
  • #13,145
  • Jun 24, 2018 3:14pm Jun 24, 2018 3:14pm
If you are tracking USDCAD this week, here's a top-down technical perspective to consider.

Price action on the daily time frame formed a shooting star or bearish pinbar last week Friday. This was at a horizontal resistance around the 1.33200 area, an area which was last crossed southward by price action in June 2017. Should there be a follow through by bears this week, we may see price action turn southward and retest the inner ascending trendline (navy) or even the horizontal support zone around 1.31050/1.30400. Technically, I see price action on the USDCAD market bear southward on a short-term basis.

On the H4 time frame, we can see price action operating at the resistance zone of an ascending channel. The most recent price action is bearish and we may see a southward disposition of the market this week. A likely target of bears is the channel support line or the horizontal support around the 1.30400 area.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #13,146
  • Jun 24, 2018 8:36pm Jun 24, 2018 8:36pm
Quoting MrPresident
https://www.reuters.com/article/us-o...-idUSKBN1JJ07G looks like USD/CAD might rally past 1.33, OPEC reached a decision, Canadian fundamentals are poor, USD offers a better deal due to interest rates
Agree, that's no point to push up oil price, global economy down especially China , oil demand less, Canada economy very slow. CAD down is expecting....
  • #13,147
  • Jun 25, 2018 8:40am Jun 25, 2018 8:40am
Im looking to sell this week. Potential double top on macd, overbought on stochastics, and of course at the trendline.
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  • #13,148
  • Jun 25, 2018 12:40pm Jun 25, 2018 12:40pm
If closes around 1.33, I think it should at least go to 1.325
  • #13,149
  • Jun 25, 2018 7:23pm Jun 25, 2018 7:23pm
Sold at 1.3295 (1.3260 is a safer entry) into a potential weekly swing.

I could be wrong. Looks bearish to me.

Trade safe.
  • #13,150
  • Jun 26, 2018 4:11am Jun 26, 2018 4:11am
Expecting 1.30 this week, hopefully.
Markets are Irrational
  • #13,151
  • Jun 26, 2018 4:40am Jun 26, 2018 4:40am
Quoting ArslanHyder
Expecting 1.30 this week, hopefully.
My longs just got better.

130 by the end of the week?? Um....well....HAHAHAHA

You still haven't learned a thing yet.
Pride always comes before destruction.... -Proverbs 16:18
  • #13,152
  • Jun 26, 2018 4:43am Jun 26, 2018 4:43am
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www.sme-fx.com
  • #13,153
  • Jun 26, 2018 7:16am Jun 26, 2018 7:16am
This pair is too volatile. It's acting like an emerging market currency. what the creepy heck?
  • #13,154
  • Jun 26, 2018 7:55am Jun 26, 2018 7:55am
Quoting ArslanHyder
Expecting 1.30 this week, hopefully.
Not quite sure if that is a possible target probably 1.32 still possible perhaps.

Currently seeing it at multiple resistance at the moment.
  • #13,155
  • Jun 26, 2018 1:46pm Jun 26, 2018 1:46pm
Quoting Expo33
{quote} My longs just got better. 130 by the end of the week?? Um....well....HAHAHAHA You still haven't learned a thing yet.
Get well soon. Mr. Troll.
Markets are Irrational
  • #13,156
  • Jun 26, 2018 2:37pm Jun 26, 2018 2:37pm
Quoting FractalFreak
{image}
What do you mean by "pushes" the prices against them? If they were able to manipulate the market that easily at-will, wouldn't they already be decillionaires?
  • #13,157
  • Jun 26, 2018 3:41pm Jun 26, 2018 3:41pm
Quoting ArslanHyder
{quote} Get well soon. Mr. Troll.
Just trying to save you from more blown accounts.

Oil surges 3.5% on the day and yet UCAD holds 133. The writing is on the wall. Dynamic traders aren't interested is buying the loonie. And why would they with all of the poor numbers coming out of Canada lately. NAFTA, trade "war" uncertainty, etc etc. Far too risky.

By the way how are you "long term" AUD/USD longs from 81 and above doing? Oh wait, never mind. Seems you caught with your pants down. We tried to warn you but your anti US Dollar trading strategy coupled with your pride didn't end well, did it?

Anyways, I thank you so much. Ultimately, your money helps to pay my bills.

Cheerio mate, and best of luck to you.
Pride always comes before destruction.... -Proverbs 16:18
  • #13,158
  • Jun 26, 2018 3:45pm Jun 26, 2018 3:45pm
Quoting Expo33
{quote} Just trying to save you from more blown accounts. Oil surges 3.5% on the day and yet UCAD holds 133. The writing is on the wall. Dynamic traders aren't interested is buying the loonie. And why would they with all of the poor numbers coming out of Canada lately. NAFTA, trade "war" uncertainty, etc etc. Far too risky. By the way how are you "long term" AUD/USD longs from 81 and above doing? Oh wait, never mind. Seems you caught with your pants down. We tried to warn you but your anti US Dollar trading strategy coupled with your pride didn't...
Sounds like you're speaking from experience.
  • #13,159
  • Jun 26, 2018 3:55pm Jun 26, 2018 3:55pm
Quoting BLSH
{quote} Sounds like you're speaking from experience.
100% from experience. Have blown many accounts during the early parts of the journey.
Pride always comes before destruction.... -Proverbs 16:18
  • #13,160
  • Edited 8:05pm Jun 26, 2018 5:49pm | Edited 8:05pm
CAD is in deep sh!t because we have crazy Liberals in power! By September Canada will be kicked out of NAFTA and USD/CAD will see 1.8000. OIL prices are non-related in this case. Also, our debts are growing faster than you think.
When you're not sure Short or Long - toss a coin! Chances are 50% !!!
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