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USDCAD trend reversal?

  • #401
  • Edited 8:31am Jun 1, 2007 6:48am | Edited 8:31am
aye cad/jpy is seeing some awesome moves. It's not hitting the top like cad's hitting the bottom, it just keeps running. About 300pips since last friday.

Heres a pic of the beast, blue horizontal lines forming boxes are daily pivots.

1h chart
http://img102.imageshack.us/img102/4...djpylq7.th.gif

daily chart
http://img182.imageshack.us/img182/6...ydayjp8.th.gif
  • #402
  • Jun 1, 2007 8:55am Jun 1, 2007 8:55am
Quoting Miguel
And people keep going long. How crazy is that?
Keep those longs coming
See what i wanted to say? Just look at the charts
  • #403
  • Jun 1, 2007 8:57am Jun 1, 2007 8:57am
Quoting Miguel
See what i wanted to say? Just look at the charts
  • #404
  • Jun 1, 2007 9:07am Jun 1, 2007 9:07am
sooner or later we will see USD/CAD back to up .. BOC dont like to be at this point ...
  • #405
  • Jun 1, 2007 9:08am Jun 1, 2007 9:08am
Quoting viking
sooner or later we will see USD/CAD back to up .. BOC dont like to be at this point ...
this is correct.
BAM BAM BOOM! -bravado
  • #406
  • Edited 10:29am Jun 1, 2007 10:19am | Edited 10:29am
OK, 0623... 500 pips from thread start price...

It is time for another round of

- "can't go down forever" and
- "I'm long USDCAD" posts...

  • #407
  • Jun 1, 2007 10:29am Jun 1, 2007 10:29am
10:53USD/CAD: We haven't seen a curency pair in need of a respirtaor this bad in quite a long time...Most supports to the downside are psychologicl in nature or option related

I say BRING'EM ON
  • #408
  • Jun 1, 2007 10:34am Jun 1, 2007 10:34am
11:33 $/CAD continues to get roasted as momentum accounts continue to sell
  • #409
  • Jun 1, 2007 10:37am Jun 1, 2007 10:37am
New guy here. This pair's totally melted down, could it possible take out 1.0550 today? Unbelievable.
Patience + Humility + Study = Success
  • #410
  • Jun 1, 2007 10:39am Jun 1, 2007 10:39am
Quoting DutchTrader
New guy here. This pair's totally melted down, could it possible take out 1.0550 today? Unbelievable.
Can't tell... I moved my last position's SL to lock 60 pips profit now. Let's see what happens....
  • #411
  • Jun 1, 2007 10:41am Jun 1, 2007 10:41am
Quoting cesarnc
Can't tell... I moved my last position's SL to lock 60 pips profit now. Let's see what happens....
Good idea, I'm definitely not predicting a bottom LOL
Patience + Humility + Study = Success
  • #412
  • Jun 1, 2007 10:53am Jun 1, 2007 10:53am
Quoting cesarnc
11:33 $/CAD continues to get roasted as momentum accounts continue to sell
Usually those guys are late in the show
  • #413
  • Jun 1, 2007 11:07am Jun 1, 2007 11:07am
long long long usd/ cad
  • #414
  • Jun 1, 2007 11:08am Jun 1, 2007 11:08am
I think is top cad/jpy, because in 2007 BoC do not mave interest high
  • #415
  • Jun 1, 2007 11:17am Jun 1, 2007 11:17am
Quoting cesarnc
Can't tell... I moved my last position's SL to lock 60 pips profit now. Let's see what happens....
HI Cesar, Do u have any idea what is moving the cad ? I mean for today, why is all this volatility, I have no idea what is going on with this pair.
  • #416
  • Jun 1, 2007 11:21am Jun 1, 2007 11:21am
Easy, just look at the trend.
  • #417
  • Jun 1, 2007 11:25am Jun 1, 2007 11:25am
Quoting forexenator
HI Cesar, Do u have any idea what is moving the cad ? I mean for today, why is all this volatility, I have no idea what is going on with this pair.
In this pair, with this strength? I have no idea.... Since 0940s, there has been talks of "funds" behind big pushes, usually by early London and early NYC (IMM open).

This week, BOC was SUPER ULTRA hawkish at the rate stament. A little more hawkish and BOC would need to raise rates ... Guess the "funds" are going to price this hike in. How far is it going down? Hard to tell. There are only psycological barriers down under, usually the double zeros...

So my strategy goes on... I'm having sell limits 0640, 0670, 0700 for next week. Sell stop below today's low.
  • #418
  • Edited 12:03pm Jun 1, 2007 11:52am | Edited 12:03pm
That was one sweet move it just made, was in c/j. Got out for the weekend, but I'm gonna look for another entry next week and ride u/c all week I think.
  • #419
  • Jun 1, 2007 12:03pm Jun 1, 2007 12:03pm
Quoting bravado
this is correct.
How you know that?
  • #420
  • Jun 1, 2007 12:04pm Jun 1, 2007 12:04pm
Quoting cesarnc
11:33 $/CAD continues to get roasted as momentum accounts continue to sell

You know what they say, it is when everyone finds out about the trend that it turns around. You can't have average joes coming to a party and getting free pickings ... this short term trend will likely be over before the end of June. Who know what happens after a few hundred pips of correction though. I wont be holding my breath.
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