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USDCAD trend reversal?

  • #1,841
  • Aug 6, 2007 4:37am Aug 6, 2007 4:37am
USDCAD

USDCAD might be bottoming at 1.0500 on 4 hours chart, key resistance is at 1.0600, a break above this level will confirm the cycle bottom and rise above 1.0698 is expected to follow. Near term support is at 1.0500, only break below this level will delay the resumption of the up trend
If I Go Broke Trying Then I Will die happy.
  • #1,842
  • Aug 6, 2007 5:00am Aug 6, 2007 5:00am
Quoting Moe
USDCAD

USDCAD might be bottoming at 1.0500 on 4 hours chart, key resistance is at 1.0600, a break above this level will confirm the cycle bottom and rise above 1.0698 is expected to follow. Near term support is at 1.0500, only break below this level will delay the resumption of the up trend


Sounds good to me

EURCAD just needs to touch 1.4550 one last time then kiss it goodbye and we should be good to go I guess. Will see in a second.
Trust price. Know yourself.
  • #1,843
  • Edited 5:48am Aug 6, 2007 5:30am | Edited 5:48am
here comes tha last chance to buy on the lows


oil concerns
http://www.mb.com.ph/BSNS2007080699608.html
"Millionaires don't use astrology, billionaires do"
  • #1,844
  • Aug 6, 2007 10:23am Aug 6, 2007 10:23am
Quoting OrionsWay
here comes tha last chance to buy on the lows
Either that or a good chance to buy into consolidation and lose, we have no real confirmation of trend do we? Overall picture is bearish
  • #1,845
  • Aug 6, 2007 10:52am Aug 6, 2007 10:52am
the 30min, 1hr, 4hr 5SM are all bearish...
is this a sign that we have turned to a bearish trend?!
  • #1,846
  • Aug 6, 2007 10:57am Aug 6, 2007 10:57am
Quoting msheno01
the 30min, 1hr, 4hr 5SM are all bearish...
is this a sign that we have turned to a bearish trend?!
there're on holiday today not much expected
  • #1,847
  • Aug 6, 2007 11:00am Aug 6, 2007 11:00am
Quoting 59fender
there're on holiday today not much expected
Weekly and Daily also bearish the trend just lost momentum bigtime
  • #1,848
  • Aug 6, 2007 11:17am Aug 6, 2007 11:17am
support is at 1.0500. it was not able to break it before so i think if it reaches this level that it will bounce back up. i guess we'll wait and see.
  • #1,849
  • Aug 6, 2007 11:40am Aug 6, 2007 11:40am
Quoting bobblong
Either that or a good chance to buy into consolidation and lose, we have no real confirmation of trend do we? Overall picture is bearish
Well depends how u want to look at it, myself i hope i get my 0456 entry triggered to add with my 508 and 533
"Millionaires don't use astrology, billionaires do"
  • #1,850
  • Edited 10:45pm Aug 6, 2007 10:30pm | Edited 10:45pm
why are we into buying? There is no confirmation of a trend chage right? Im looking at the dailies, it seems like the selling has resumed? that pin bar on the monthly suggest that the trend might change but there is no confirmation yet. I'd stcik withe trend for this month until im proven wrong.
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  • #1,851
  • Aug 7, 2007 1:47am Aug 7, 2007 1:47am
Quoting jest1081
why are we into buying? There is no confirmation of a trend chage right? Im looking at the dailies, it seems like the selling has resumed? that pin bar on the monthly suggest that the trend might change but there is no confirmation yet. I'd stcik withe trend for this month until im proven wrong.

Once it breaks it's a pin bar. There's the alternative of entering on a retrace - that's what I am looking for at the .618 if there's a small TF setup. If not - oh well. Always the break / pullbacks.
Trust price. Know yourself.
  • #1,852
  • Aug 7, 2007 4:31am Aug 7, 2007 4:31am


Barely posted it, then we got this.

> 1.0630 would be nice..
Attached Image
Trust price. Know yourself.
  • #1,853
  • Aug 7, 2007 5:17am Aug 7, 2007 5:17am
USDCAD

USDCAD broke below 1.0500 previous low and reached as low as 1.0488. Further fall towards 1.0450 area to reach the next cycle bottom on 4 hours chart is still possible in the next several days. Key resistance is at 1.0587, a break above this level will signal the resumption of the up trend.
If I Go Broke Trying Then I Will die happy.
  • #1,854
  • Aug 7, 2007 8:21am Aug 7, 2007 8:21am
Cad projecting 0823 , a 261.8 retracement extension and channel top zone strong res will be found there
"Millionaires don't use astrology, billionaires do"
  • #1,855
  • Aug 7, 2007 8:26am Aug 7, 2007 8:26am
all i see is an 80 pip expanding range with a slight bearish attitude.
  • #1,856
  • Aug 7, 2007 8:36am Aug 7, 2007 8:36am
yea it will be a slow crawl retrcement
"Millionaires don't use astrology, billionaires do"
  • #1,857
  • Aug 7, 2007 8:55am Aug 7, 2007 8:55am
I can still see it is going down towards 1.0500, all my indicators are strongly suggesting it is going south....
  • #1,858
  • Aug 7, 2007 5:10pm Aug 7, 2007 5:10pm
Quoting OrionsWay
yea it will be a slow crawl retrcement
NOW I am starting to feel the possible trend change
  • #1,859
  • Aug 8, 2007 1:01am Aug 8, 2007 1:01am
USDCAD

USDCAD is in correction to the up trend. Further fall towards 1.0450 area to reach the next cycle bottom on 4 hours chart is still possible in the next several days. On the other side, USDCAD can be bottoming at 1.0488 on 4 hours chart, key resistance is at 1.0587, a break above this level will confirm the cycle bottom.
If I Go Broke Trying Then I Will die happy.
  • #1,860
  • Aug 8, 2007 7:47am Aug 8, 2007 7:47am
Looks like it might hit a 61.8 fib down here.
Think this may be a buy opportunity?
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