Crazy week.

I have been sitting on the sidelines this week on my most traded pairs the EUR/USD and USD/CAD. I am looking at the historical charts for both of them and it is very interesting.

The USD is at all time lows against both currency pairs. How low can this go? I don't feel comfortable getting in at the bottom (or top) of a trend that hasn't been seen in 25+ years in the CAD case, and ever in the EUR case.

What is your take on the situation? Do you think we can see the CAD have even bigger gains? I have been waiting for a correction up to the 1$ mark.

The markets have been realitivly unchanged by news events, and have been acting opposite of them on many cases. (A usd rebound after bad news earlier this week)

What is your take on the events of this week? Am I missing something by sitting on the sidelines while the tops and bottoms of these trends are being tested?


-Ray

I think continued dollar weakness, unless the carry trades unwind. USD/CAD might go down further is oil continues to rise.. The canadian economy looks in much better shape than the US at the moment.

If there is something I have learnt is that market does not have "tops" or "bottoms". According to many people posts during July in this forum, CAD was never going to be higher than USD. Look what happened.

Be prepared for anything. Don't be afraid about getting in at the top or bottom, just follow the trend!