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USD/CAD

  • #15,321
  • Sep 26, 2019 9:59am Sep 26, 2019 9:59am
The big boys hunting for stops.....
Lost....
  • #15,322
  • Sep 26, 2019 10:39am Sep 26, 2019 10:39am
maybe its a flag?
  • #15,323
  • Sep 26, 2019 10:41am Sep 26, 2019 10:41am
if it didnt go down should go up?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 156 KB
  • #15,324
  • Sep 26, 2019 10:52am Sep 26, 2019 10:52am
double bottom from one of big 38.2 fib level.., what do you think guys?
  • #15,325
  • Sep 26, 2019 10:54am Sep 26, 2019 10:54am
Actually looks like a H/S formation at this point. My ultimate TP is 1.2930ish.
Attached Image (click to enlarge)
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Lost....
  • #15,326
  • Sep 26, 2019 11:17am Sep 26, 2019 11:17am
Quoting gespiri
Actually looks like a H/S formation at this point. My ultimate TP is 1.2930ish. {image}
it more like round test resistant, like eur usd, or aud usd, coreliation, need to work wiht that, maybe some pairs starting it earlier than others, but i dont like that its spend some much time, it should drop, i been shorting earlier..everything is probabilities and ideas, yesterday wanted to buy today's low, but still dont have nerves to trade my plan..also usd cad like to go up, like to previous times..
  • #15,327
  • Sep 26, 2019 1:04pm Sep 26, 2019 1:04pm
UC seems in consolidation mode for more than a week between 1.322x and 1.330x. If this consolidation continues, we should see a drop from 1.3280.
Attached Image (click to enlarge)
Click to Enlarge Name: UC.png Size: 129 KB


My bias is short this pair until 1.298x to complete wave 5.
  • #15,328
  • Sep 26, 2019 1:37pm Sep 26, 2019 1:37pm
Massive buy on breach of 1.328ish
  • #15,329
  • Sep 27, 2019 10:18am Sep 27, 2019 10:18am
Really diving now. It seems to be going the wrong way as oil and gold are falling. I think I may pick up a little (.1 or .2) for a play that the commodity news eventually cools this off and stabilizes.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 102 KB
Ecclesiastes 1:9
  • #15,330
  • Sep 27, 2019 10:52am Sep 27, 2019 10:52am
Quoting newbegger
Really diving now. It seems to be going the wrong way as oil and gold are falling. I think I may pick up a little (.1 or .2) for a play that the commodity news eventually cools this off and stabilizes. {image}
Did not expect it so soon. Taking profits now.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 99 KB
Ecclesiastes 1:9
  • #15,331
  • Sep 27, 2019 3:25pm Sep 27, 2019 3:25pm
I closed my sells because I don't want to hold during weekend. I keep only one running position.
Ready to sell again next week.
Have a nice weekend
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1..png Size: 62 KB
Give me a lever long enough and a place to stand, and I will move the Earth
  • #15,332
  • Edited Sep 28, 2019 10:48am Sep 27, 2019 6:15pm | Edited Sep 28, 2019 10:48am
Looking at the current exchange rate for USDCAD it appears to me it would be smart to buy USD using CAD since the USD is the stronger currency, It appears the general market sentiment is strong USD not sure about CAD though it does appear to be weaker then the USD.
  • #15,333
  • Sep 28, 2019 5:17am Sep 28, 2019 5:17am
Quoting PatrickR
Looking at the current exchange rate for USDCAD it appears to me it would be smart to buy USD using CAD since the USD is the stronger currency, It appears the general market sentiment is strong USD not sure about cad though it does appear to be weaker then the USD.
You have a point but it's not that easy. It would be too easy.
In my view I see a stronger CAD and I will try to buy it against USD until 1.3025 if nothing changes, but of course anything can happen to change my mind. It's only my opinion
Give me a lever long enough and a place to stand, and I will move the Earth
  • #15,334
  • Sep 28, 2019 10:47am Sep 28, 2019 10:47am
Quoting artestine
{quote} You have a point but it's not that easy. It would be too easy. In my view I see a stronger CAD and I will try to buy it against USD until 1.3025 if nothing changes, but of course anything can happen to change my mind. It's only my opinion
What is your reasoning for stronger CAD, Also. Why, Do you think its not that easy if you are buying you would want to end up with a currency strong enough to appreciate which is clearly the USD which you can tell by looking at the exchange rate.
  • #15,335
  • Sep 28, 2019 10:53am Sep 28, 2019 10:53am
Looking at the DXY does anybody see significance to the 98.52 level it appears that price hasn't bee able to stay above that do you think that signifies strength or weakness for the USD
  • #15,336
  • Sep 28, 2019 2:30pm Sep 28, 2019 2:30pm
I would say to NOT focus too much on the fundamentals but on the technical.
It's true that CAD is poised to strengthen in the short/middle term but watch out for those daily stop hunters which makes this pair very volatile in the coming weeks.
My TP1 is at 1.3030, TP2 at 1.2930.
Lost....
  • #15,337
  • Sep 28, 2019 3:32pm Sep 28, 2019 3:32pm
Quoting PatrickR
{quote} What is your reasoning for stronger CAD, Also. Why, Do you think its not that easy if you are buying you would want to end up with a currency strong enough to appreciate which is clearly the USD which you can tell by looking at the exchange rate.
Well, for your reason I go against USD only with CAD, rarely with NZD or AUD. I see a stronger CAD for fundamentals (moreover I think Oil will go up in the next days/weeks) plus technical reasons to let me think to short USD/CAD at least until 1.3025 (if nothing in the next days happens to change my perspective). But I repeat, it's only my opinion.

Anyway I say that it's not that easy because in this case everyone would do it easily and everyone will be super rich
Give me a lever long enough and a place to stand, and I will move the Earth
  • #15,338
  • Sep 28, 2019 8:05pm Sep 28, 2019 8:05pm
Quoting gespiri
I would say to NOT focus too much on the fundamentals but on the technical. It's true that CAD is poised to strengthen in the short/middle term but watch out for those daily stop hunters which makes this pair very volatile in the coming weeks. My TP1 is at 1.3030, TP2 at 1.2930.
Why would you not want to focus on fundamentals ins't that primarily the way to tell which currencies are doing good and bad I feel like so many times I've taken a relatively technical approach and price did nothing close to how I marked up my charts or what I was thinking was going to happen.

Edit: I have a tp around 1.38545
  • #15,339
  • Sep 28, 2019 8:08pm Sep 28, 2019 8:08pm
Quoting artestine
{quote} Well, for your reason I go against USD only with CAD, rarely with NZD or AUD. I see a stronger CAD for fundamentals (moreover I think Oil will go up in the next days/weeks) plus technical reasons to let me think to short USD/CAD at least until 1.3025 (if nothing in the next days happens to change my perspective). But I repeat, it's only my opinion. Anyway I say that it's not that easy because in this case everyone would do it easily and everyone will be super rich

Isn't the U.S a big creator of oil why would oil matter in correlation to CAD, If that makes sense. Even if oil goes up if U.S is big maker of oil wouldn't that only further strength USD. I rarely go against USD also only a few pairs I would consider it.
  • #15,340
  • Sep 29, 2019 5:07am Sep 29, 2019 5:07am
Quoting PatrickR
{quote} Why would you not want to focus on fundamentals ins't that primarily the way to tell which currencies are doing good and bad I feel like so many times I've taken a relatively technical approach and price did nothing close to how I marked up my charts or what I was thinking was going to happen. Edit: I have a tp around 1.38545
IMO, they use fundamentals (news) to explain the moves in the markets.
Market trends and price actions are primarily driven by buyers'/sellers' emotions, manipulation by the big boys, and other factors. They try to explain the moves using fundamentals and if that doesn't work, they blame it on other things.
I follow the trend, follow fib levels, and follow MM levels while keeping an eye on what news would come up during that time especially when PA is nearing one of these levels.
For now, the trend is showing down. However, I expect to see this go up starting year-end and all of 2020 (probably around your level) especially when we get positive news regarding all the current US fiasco and global oil production (where I see a big glut due to overproduction/under-demand).
Lost....
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