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USDCAD trend reversal?

  • #2,501
  • Mar 10, 2008 10:11pm Mar 10, 2008 10:11pm
watchout for tonight trade balance data. might be crucial. if ucad fail to break 1.0000, it might go down and test nfp low.

good luck

http://mymetafx.com/images/stories/Photo/usdcad.jpg
  • #2,502
  • Mar 11, 2008 12:22pm Mar 11, 2008 12:22pm
Double-top or not, it is surprising to see high-impact news not making barely any impact on the pair's direction. While the european currencies all corrected in a sharp manner following the trade balance release, a really big positive Canadian number didn't make hardly any splash against the USD... is it the widespread perception at this point that the loonie is even weaker than the dollar??? Hard to fathom.
  • #2,503
  • Mar 12, 2008 4:32am Mar 12, 2008 4:32am
Quoting Trader KGB
Unbelievable that oil is at $108 and USDCAD just retraced 200 pips to the upside in the past 2 sessions. I'll admit, this completely broken oil/loonie correlation is perplexing. If we get a test on parity, I might have to back up the truck on the short side.
Had to chase it short when it couldn't fulfill the parity test. Sizable drop just now on the hourly trendline break. Hopefully this is just the beginning on the lead up to the oil inventory report.
  • #2,504
  • Mar 12, 2008 4:44am Mar 12, 2008 4:44am
Quoting Trader KGB
Had to chase it short when it couldn't fulfill the parity test. Sizable drop just now on the hourly trendline break. Hopefully this is just the beginning on the lead up to the oil inventory report.
Yeah, it's not often I feel like a rock star watching a trade go my way.
This is one of those rare moments. Added to my short @ 0.9902 (merely averaging down at this point on the way to BE). Looks like the market is finally coming to its senses though... but come NY open, things might change again.
  • #2,505
  • Mar 13, 2008 3:44am Mar 13, 2008 3:44am
i have no answer why ucad stalled at 0.9900. other pair has made the move selling dollar.
  • #2,506
  • Mar 26, 2008 8:09pm Mar 26, 2008 8:09pm
hmm bearish tokyo session for usdcad... before the tokyo session i would have said long but now seems to turn to the short side..

anyone trading this pair now?
  • #2,507
  • Mar 27, 2008 3:54am Mar 27, 2008 3:54am
I think everything that is higher 1.03 its all long buy for about 1000 pips at least
  • #2,508
  • Mar 28, 2008 2:46am Mar 28, 2008 2:46am
Here the count
Attached Image (click to enlarge)
Click to Enlarge Name: cad.gif Size: 57 KB
  • #2,509
  • Mar 28, 2008 6:46am Mar 28, 2008 6:46am
The weekly shows a crazy consolidation period for the last several months. We're probably on some funky version of the down slope. But who knows, there are plenty of support levels we could bounce off and break out on. Looks like we're traveling the 200 EMA (daily) at the moment... so that might account for something. All in all I wouldn't trade it tho, too uncertain.
  • #2,510
  • Mar 28, 2008 7:17am Mar 28, 2008 7:17am
Quoting Serega
Here the count
Hi Serega, so you think once we get the C wave down, we should back up above 1.0310? That's why your arrows above the 1.0310 line are pointing up? Thanks
  • #2,511
  • Mar 28, 2008 7:28am Mar 28, 2008 7:28am
Quoting mirdaniel
Hi Serega, so you think once we get the C wave down, we should back up above 1.0310? That's why your arrows above the 1.0310 line are pointing up? Thanks
A lot of arrows above means when the price will breake 1.03 the pair can start a new impuls up.From the technical point of view we have something like flat on weekly. If count waves , i suppose we are at the end of wave B on daily timeframe and next will be start of C at least 1000 pips up. This is my point of veiw. It can be mistaken.
I made a post with daily count some days ago
Wish you profits.
  • #2,512
  • Mar 28, 2008 7:33am Mar 28, 2008 7:33am
Here the count that was made last week.
I want to admit, that it is my point of view, so be careful.
Attached Image (click to enlarge)
Click to Enlarge Name: 52.gif Size: 24 KB
  • #2,513
  • Mar 28, 2008 7:41am Mar 28, 2008 7:41am
Quoting Serega
A lot of arrows above means when the price will breake 1.03 the pair can start a new impuls up.From the technical point of view we have something like flat on weekly. If count waves , i suppose we are at the end of wave B on daily timeframe and next will be start of C at least 1000 pips up. This is my point of veiw. It can be mistaken.
I made a post with daily count some days ago
Wish you profits.
Thanks for your response. You mean the start of C is down first, at least at 1.0085, before we go up right?
  • #2,514
  • Mar 28, 2008 7:45am Mar 28, 2008 7:45am
Quoting Serega
Here the count that was made last week.
I want to admit, that it is my point of view, so be careful.
OK You're talking about that C. But for now you think we have a small C coming down?
  • #2,515
  • Mar 28, 2008 3:25pm Mar 28, 2008 3:25pm
Quoting mirdaniel
OK You're talking about that C. But for now you think we have a small C coming down?
thats right!
  • #2,516
  • Apr 30, 2008 1:55pm Apr 30, 2008 1:55pm
Short Daily pattern could send the pair down towards 0.9700
  • #2,517
  • Aug 4, 2008 3:32am Aug 4, 2008 3:32am
interesting how this thread about usdcad just faded away...

anyways...

looks interesting a short now @ 1.03... maybe heading to 1.00 again...

what u think?
  • #2,518
  • Aug 4, 2008 10:00am Aug 4, 2008 10:00am
Quoting iiivb
interesting how this thread about usdcad just faded away...

anyways...

looks interesting a short now @ 1.03... maybe heading to 1.00 again...

what u think?
1.0310 short looks good, but I'm not looking for any big drop because of the FOMC tomorrow. For sure I will be out before 2.15pm tomorrow.
  • #2,519
  • Edited 10:40am Aug 4, 2008 10:23am | Edited 10:40am
I'll sell near 1.0361 for 100 pips, becouse it's 2 month high and I see some retresmant beafor it goes more North,,,,,,,,,,,and Stops to Entry tommorow beafor 2:15pm
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  • #2,520
  • Aug 4, 2008 10:47am Aug 4, 2008 10:47am
Quoting Algirdas
I'll sell near 1.0323 for 100 pips, becouse it's 2 month high and I see some retresmant beafor it goes more North,,,,,,,,,,,and Stops to Entry tommorow beafor 2:15pm
I agree, some retracement is probably on the way. Looking to short this pair tomorrow. Glad I found this thread. Not too much chatter about this pair.
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