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USDCAD trend reversal?

  • #1,721
  • Jul 27, 2007 8:36am Jul 27, 2007 8:36am
Quoting rbock
Interesting on the USD/CAD today. I would have thought with the bad housing news, the cad would have gained a lot. Especially with the great sales news on CAD a couple days ago. Very interesting couple of days.
Re housing in particular - Canada exports a good deal of lumber and other building materials (like copper for pipes) to the US to support the US building trades, plus it's been a big draw for skilled Canadian construction workers. So US building woes are often neutral to negative w/r to USD/CAD.
  • #1,722
  • Jul 27, 2007 1:43pm Jul 27, 2007 1:43pm
Quoting HalifaxCB
Re housing in particular - Canada exports a good deal of lumber and other building materials (like copper for pipes) to the US to support the US building trades, plus it's been a big draw for skilled Canadian construction workers. So US building woes are often neutral to negative w/r to USD/CAD.
Ahh. Thanks for the info on that.
  • #1,723
  • Jul 28, 2007 8:17pm Jul 28, 2007 8:17pm
Quoting OrionsWay
I wonder if this is trend change?

Think this is just finishing up wave 3 of 1
May be this explains -

Usd/Cad

Very Longer -Term ............
Here's where we are , Some serious Multi-Year lows are at hand

------------------------------------------------
" End of a Wave 5 "
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-6-29-2007-#3.jpg Size: 73 KB
  • #1,724
  • Jul 28, 2007 8:20pm Jul 28, 2007 8:20pm
Pg-2 ..,,,,( A closer look )
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-7-26-2007-#2.jpg Size: 51 KB
  • #1,725
  • Jul 28, 2007 8:26pm Jul 28, 2007 8:26pm
Quoting marketwavez
Pg-2 ..,,,,( A closer look )
So what are you saying?
Patience + Humility + Study = Success
  • #1,726
  • Jul 28, 2007 9:23pm Jul 28, 2007 9:23pm
Quoting DutchTrader
So what are you saying?
The 2 charts above are in response to Orions Way's question
about Elliott wave count in the Usd/Cad .....

Orions Way asked a question - These 2 charts are my answre
go back just above and read Orions Way's question .
  • #1,727
  • Jul 29, 2007 7:32am Jul 29, 2007 7:32am
Quoting marketwavez
The 2 charts above are in response to Orions Way's question
about Elliott wave count in the Usd/Cad .....

Orions Way asked a question - These 2 charts are my answre
go back just above and read Orions Way's question .
so what do u think? i think it's just temporary trend change USD going to go down more....

any opinion? About this reversal, how long it will go?
  • #1,728
  • Jul 29, 2007 10:59am Jul 29, 2007 10:59am
"Orions Way asked a question - These 2 charts are my answre
go back just above and read Orions Way's question ."


Those of us who don't know Elliot wave are wondering, Market
wavez, if what you believe is that your chart shows that this is reversal time. That's what he as asking.
  • #1,729
  • Edited 1:11pm Jul 29, 2007 12:42pm | Edited 1:11pm
Usd/Cad
here is what I See
----------------------------------

The Canadian Dollar is rallying out of Multi-Year lows from just below .0350
then made a Double Bottom or equal lows .....
---------------------------------------------------------
We have now had a strong 3 day rally .....
and now the Usd/Cad is overbought , most would agree it's overbought
Just look at any oscillator

So anyone with real world experience would not ask where is the top .
An experienced trader would look for a pullback or retracement to occur
off of this strong rally or so called main trend and then look to re-enter then.
------------------------------------------------------------------------

This is what I see
I'm leaving this one alone -

No Top Picking for me....:
Iv'e seen that movie already ..................

Good Luck finding the top !
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-7-27-2007-#1.jpg Size: 59 KB
  • #1,730
  • Edited 4:26pm Jul 29, 2007 12:56pm | Edited 4:26pm
If you are asking my opinion
This is what I'm taking very seriously going Forward

- A Right Shoulder may start to develop here in the Usd/Yen
( Learned this one in Chartshcool 101... long ago )
 ---------------------------------------------------------------
Will it happen ? ..........Only time will tell ! ..... Here it is ...........

Please excuse me for posting a Yen chart ,
Just showing my thinking for next week .. Only because you asked !.....
Attached Image (click to enlarge)
Click to Enlarge Name: YEN-07-27-07-01.jpg Size: 57 KB
  • #1,731
  • Jul 30, 2007 7:33am Jul 30, 2007 7:33am
Quoting marketwavez
If you are asking my opinion
This is what I'm taking very seriously going Forward

- A Right Shoulder may start to develop here in the Usd/Yen
( Learned this one in Chartshcool 101... long ago )
 ---------------------------------------------------------------
Will it happen ? ..........Only time will tell ! ..... Here it is ...........

Please excuse me for posting a Yen chart ,
Just showing my thinking for next week .. Only because you asked !.....
Marketwavez, this chart is scary!!
It U/J shoots up .. it'll end up in what 140? 150?
  • #1,732
  • Jul 30, 2007 7:49am Jul 30, 2007 7:49am
Quoting marketwavez
If you are asking my opinion
- A Right Shoulder may start to develop here in the Usd/Yen
( Learned this one in Chartshcool 101... long ago )
 ---------------------------------------------------------------
Will it happen ? ..........Only time will tell ! ..... Here it is ...........
Hi, is not Inverted Head & Shoulder! Inverted Head & Shoulder is a bottom reversal pattern from the down trend. BUT!! There is no down trend on weekly chart!!!!!
  • #1,733
  • Jul 30, 2007 9:13am Jul 30, 2007 9:13am
Cadbury been pretty light on the loafers since the open looking for a nice pull back. calling this 4hr move north W1
"Millionaires don't use astrology, billionaires do"
  • #1,734
  • Jul 31, 2007 5:59am Jul 31, 2007 5:59am
long 1.0630, tp 1.0720,1.0850, s/l 1.0600


Provided this bar will close as a pin bar (10:00GMT) 4h
  • #1,735
  • Jul 31, 2007 6:59am Jul 31, 2007 6:59am
This pair looks bearish to me. I can see a 1.0500 test provided CAD GDP Comes in strong.
Patience + Humility + Study = Success
  • #1,736
  • Jul 31, 2007 7:46am Jul 31, 2007 7:46am
heh no impact by cad gdp > as expected
  • #1,737
  • Jul 31, 2007 7:49am Jul 31, 2007 7:49am
Quoting bobblong
heh no impact by cad gdp > as expected
Look for sale into strength, US numbers were even worse.
Patience + Humility + Study = Success
  • #1,738
  • Jul 31, 2007 7:52am Jul 31, 2007 7:52am
sale into strength? please explain..
  • #1,739
  • Jul 31, 2007 7:55am Jul 31, 2007 7:55am
Quoting bobblong
sale into strength? please explain..
Meaning that the if it goes to say 1.0675 sellers will start shorting at that level.
Patience + Humility + Study = Success
  • #1,740
  • Jul 31, 2007 7:55am Jul 31, 2007 7:55am
up or down? right at the short term trendline
Attached Image (click to enlarge)
Click to Enlarge Name: cad.jpg Size: 48 KB
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