should we play on usd/cad ? | Forex Factory

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should we play on usd/cad ?

  • #1
  • First Post: Mar 4, 2008 7:26am Mar 4, 2008 7:26am
As the interest rate statement is near a 50 cut is probabile but a 25 cut is tradeble too, 30 min before it will go down at lest 30~40 pips in my opinion then a rise like 50~70 pips if it's 25 cut or at least 120 pips or more if it's a 50 cut.

anybody else thoughts? agree or not?

should we trade this news before or after?
  • #2
  • Mar 4, 2008 7:28am Mar 4, 2008 7:28am
Go for it. That pair can be tricky. Off the cuff I say dollar strength.
  • #3
  • Mar 4, 2008 7:30am Mar 4, 2008 7:30am
USDCAD is bottoming either way. I would say buy dip instead of betting on the short. Just advice
  • #4
  • Mar 4, 2008 7:35am Mar 4, 2008 7:35am
Yep, very tricky..

anyway.. not against the main trend.. i see a bearish formation too.. very posible to make my pips before the news..

but still.. so tricky.

http://img521.imageshack.us/img521/5...4032008mc5.gif
  • #5
  • Mar 4, 2008 7:45am Mar 4, 2008 7:45am
Quoting TIckerShuffl
Go for it. That pair can be tricky. Off the cuff I say dollar strength.
Agree. I'm still gonna hold my longs, mostly because of the technical side usdcad is showing, and I don't see how usdcad should/could drop with a rate-cut coming up. But stranger things have happened

1h and daily chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1hyuc.gif Size: 14 KB
Click to Enlarge Name: dailyuc.gif Size: 17 KB
Measure twice, cut once
  • #6
  • Mar 4, 2008 7:52am Mar 4, 2008 7:52am
I see the 1h trendline break. But i could be wrong.

And still so so tricky..

http://img510.imageshack.us/img510/5...4032008cm6.gif
  • #7
  • Mar 4, 2008 8:03am Mar 4, 2008 8:03am
Quoting aediaz1
Agree. I'm still gonna hold my longs, mostly because of the technical side usdcad is showing, and I don't see how usdcad should/could drop with a rate-cut coming up. But stranger things have happened

1h and daily chart
Free pips IMO
Measure twice, cut once
  • #8
  • Mar 4, 2008 8:08am Mar 4, 2008 8:08am
yep..

i was wrong u was right..

i lost u win..

almost 500$ lost..

very painfull.

OUCH!!!

  • #9
  • Mar 4, 2008 8:12am Mar 4, 2008 8:12am
Oh man...I feel your pain. This could be knee jerk. The relationship between CAD and USD is fairly loose. I wish we all could just make tons of cash and celebrate everyday.
  • #10
  • Mar 4, 2008 8:16am Mar 4, 2008 8:16am
Quoting eye4spot
yep..

i was wrong u was right..

i lost u win..

almost 500$ lost..

very painfull.

OUCH!!!

Betting against a rate-cut is very risky. Especially when you know it's a cut by either .25 or .50 and that the The Bank of Canada follows (so far) the US fed.
Measure twice, cut once
  • #11
  • Mar 4, 2008 8:22am Mar 4, 2008 8:22am
probably will go back till the parity.
  • #12
  • Mar 4, 2008 9:20am Mar 4, 2008 9:20am
Well..

That was a lesson. The market teached me. A expensive one but i learned.

I'm out for today.

Thank's TIckerShuffl and aediaz1.
  • #13
  • Last Post: Mar 4, 2008 11:44am Mar 4, 2008 11:44am
We just passed a local resistance area and tests to the downside have failed to break below the zone. I'm rather bullish on USD/CAD for the time being... altho we might see enough resistance at 1.0000 for a reversal. There might be some resistance around .9982 tho, we'll see.
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