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  • #16,701
  • Apr 13, 2022 7:04am Apr 13, 2022 7:04am
Could there be a pump higher towards 1.27 before the BOC decision and then a dump later after the press conference?
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,702
  • Apr 13, 2022 7:08am Apr 13, 2022 7:08am
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1.2677 sell
  • #16,703
  • Apr 13, 2022 8:22am Apr 13, 2022 8:22am
https://financialpost.com/news/econo...decision-guide

Quote
Governor Tiff Macklem is expected to raise the central bank’s policy rate to 1 per cent on Wednesday, followed by a series of additional hikes that markets are betting will bring it as high as 3 per cent by this time next year. The Bank of Canada is also likely to use the decision, due at 10 a.m. in Ottawa, to effectively stop purchases of government bonds as it begins unwinding its balance sheet.

Those moves represent one of the most forceful tightening campaigns ever by the Bank of Canada, a tacit recognition officials...

Looks like there could be a dump for USD/CAD soon if the BOC turns very hawkish. Bulls could be trapped near the 1.27 level. Bears likely will target 1.23 in a few weeks maybe?
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,704
  • Apr 13, 2022 11:03am Apr 13, 2022 11:03am
dump in progress, under the 200 DMA
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,705
  • Apr 15, 2022 4:41am Apr 15, 2022 4:41am
If it's any consolation, the bullishness from the Dollar against the oil-correlated loonie has been quite significant and citing that some major SHs has been smash..., Any return to the 1.2500 psychological level seems like buy from
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  • #16,706
  • Apr 15, 2022 4:45am Apr 15, 2022 4:45am
In the meantime .... Shorting 150 pips back to support seems like doable

Given the odds
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  • #16,707
  • Edited 11:56am Apr 15, 2022 9:39am | Edited 11:56am
It is still stuck near 1.26, with rallies being sold. I don’t see how this pair can be bullish if commodity prices are rising.

https://tradingeconomics.com/commodity/crb
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,708
  • Apr 17, 2022 3:02pm Apr 17, 2022 3:02pm
USDCAD price action on the daily time frame turned sideways after making about 61.8 Feb retracement of the downward swing from the 1.28700 area (red). The technical structure from the W1 tf favours bears more than bulls. We may see bearish continuation this week.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #16,709
  • Apr 19, 2022 1:07pm Apr 19, 2022 1:07pm
Big news event for CAD prep up
SKQT - Super Kool Quant Trader
Daily Remy All Time Return: 5.6%
  • #16,710
  • Apr 20, 2022 8:07am Apr 20, 2022 8:07am
Hello Traders of the world. today I'm looking to short USDCAD from the current price of 1.2519 to 1.23 and more further 1.20. anyone Seeing the same setup? @Element14_
Element14
  • #16,711
  • Apr 20, 2022 8:21am Apr 20, 2022 8:21am
The 1.26 level is proving to be tough. 1.24 is a strong support and my near-term target.
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,712
  • Apr 21, 2022 12:34am Apr 21, 2022 12:34am
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long soon
  • #16,713
  • Apr 22, 2022 4:23am Apr 22, 2022 4:23am
Interesting hourly chart for USD/CAD. Over 200 pips and covering the range of entire week and a half in a single day. Wondering if it's about time for the bears to come in..
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  • #16,714
  • Apr 22, 2022 6:49am Apr 22, 2022 6:49am
[quote=ICouldBWrong;13977380]Interesting hourly chart for USD/CAD. Over 200 pips and covering the range of entire week and a half in a single day. Wondering if it's about time for the bears to come in.. {imag

dont see any bears coming today, the market opened in trend mode
  • #16,715
  • Apr 22, 2022 7:37am Apr 22, 2022 7:37am
Stocks are doing bad due to hawkish Powell, dragging down commodity currencies like CAD. I expect there to be small rallies to sell on the daily chart since I don't think that the FED will be too aggressive to crash the markets and cause a recession.
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,716
  • Apr 22, 2022 8:45am Apr 22, 2022 8:45am
I am going short on usdcad. How about you guys?
USDCAD Gamble
Risk Management is of utmost importance!
  • #16,717
  • Apr 22, 2022 8:49am Apr 22, 2022 8:49am
Quoting RCtrader
I am going short on usdcad. How about you guys? USDCAD Gamble
I would wait for higher levels to sell again. Preferably the 1.30 level, if it gets there.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,718
  • Apr 22, 2022 8:58am Apr 22, 2022 8:58am
Stocks continue to sell-off this morning, supporting USD/CAD.
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,719
  • Apr 24, 2022 3:23pm Apr 24, 2022 3:23pm
USDCAD price action on the daily time frame is bullish. On Friday, price action broke above the 1.26420 horizontal resistance area (magenta) with a relatively big bullish candlestick; the area had held as resistance for eight days. Should bulls maintain their influence in the market, we may see further northward push. The 1.28730 area is long-term horizontal resistance and may be a target of bullish ambition.


I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #16,720
  • Apr 25, 2022 7:38am Apr 25, 2022 7:38am
1.282 and then 1.295 are likely the next major bullish targets

1.30 level is probably a good place to short
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
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