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USDCAD trend reversal?

  • #2,601
  • Jan 20, 2009 2:43pm Jan 20, 2009 2:43pm
Quoting Trader KGB
Only the front month is up, due to its expiration today, all of the back dated months are down 3.6 - 6% at this moment.

Looks as if though USD/CAD is destined for a 4th attempt at the 1.30 level.

Quadruple top, and bukkake.
Patience + Humility + Study = Success
  • #2,602
  • Feb 6, 2009 10:34am Feb 6, 2009 10:34am
Whats up with the Loonie? Bad Employment report and dismal data and its strong!!!! 300 PIPS Down from 1.2540 to 1.2240??

A good level to buy?
  • #2,603
  • Feb 6, 2009 12:59pm Feb 6, 2009 12:59pm
Quoting hantousha
Whats up with the Loonie? Bad Employment report and dismal data and its strong!!!! 300 PIPS Down from 1.2540 to 1.2240??

A good level to buy?
Perhaps. Or you could wait til another 50-100 pips lower. This is another bailout rally clearly liable to fizzle next week.
  • #2,604
  • Feb 8, 2009 5:25am Feb 8, 2009 5:25am
large gap up at the opening of the markets today.
  • #2,605
  • Feb 8, 2009 1:57pm Feb 8, 2009 1:57pm
DID ANYONE ELSE SHORT USD/CAD AFTER THE RUN ON NEWS..I'M CURRENTLY SITTING ON USD/CAD HERE ARE MY RESULTS..
Open Trades: TicketOpen TimeTypeSizeItem PriceS / LT / P PriceCommissionTaxesSwapProfit 607829862009.02.06 15:07sell1.00usdcad1.24900.00000.0000 1.22560.000.000.891 909.27 0.00 0.00 0.89 1 909.27 Floating P/L: 1 910.16

VERY EXCITED AND SITTING ON 234 PIPS SO FAR.
  • #2,606
  • Feb 8, 2009 2:04pm Feb 8, 2009 2:04pm
Quoting nyse1982
DID ANYONE ELSE SHORT USD/CAD AFTER THE RUN ON NEWS..I'M CURRENTLY SITTING ON USD/CAD HERE ARE MY RESULTS..
Open Trades: TicketOpen TimeTypeSizeItem PriceS / LT / P PriceCommissionTaxesSwapProfit 607829862009.02.06 15:07sell1.00usdcad1.24900.00000.0000 1.22560.000.000.891 909.27 0.00 0.00 0.89 1 909.27 Floating P/L: 1 910.16

VERY EXCITED AND SITTING ON 234 PIPS SO FAR.
Ya That was a good trade. I went long at 1.23877 and 1.22577, I expect a reversal I would book my profits at this stage and go long. I just don't see how this USD/CAD can go lower than 1.21, the fundamentals are not in their side, technicals are also turning side to be bullish at this stage from oversold.

Anyone out there that will give more input?

I see U/C heading to atleast 1.25xx within this week.
  • #2,607
  • Feb 8, 2009 4:57pm Feb 8, 2009 4:57pm
Ok, right about now would be a great time to get in long, as we are looking at a massive selloff on Wall St in about 14 hours from now. CAD housing starts should help matters further, IMHO.

Watch for S1 @ 1.2080 though.
  • #2,608
  • Feb 9, 2009 5:39am Feb 9, 2009 5:39am
I have a short USDCAD 1.2253 TAKE PROFIT 1.2228
  • #2,609
  • Feb 19, 2009 8:37pm Feb 19, 2009 8:37pm
Looks like 1.26 is strong resistance for today. Enterning short @ 1.2584, stop @ 1.2605 targetting 1.2550.

Good article on Why CAD will be strenghtening agains thre dollar:

Dollar May Be Near Peak Versus Canada’s Currency, Barclays Says
http://www.bloomberg.com/apps/news?p...refer=currency
  • #2,610
  • Mar 3, 2009 12:17pm Mar 3, 2009 12:17pm
Quad-top, anyone?
  • #2,611
  • Mar 4, 2009 12:13pm Mar 4, 2009 12:13pm
Quoting Subdude
Quad-top, anyone?
Looks like its ready for a sharp fall. A lot of resistance up there.
  • #2,612
  • Mar 4, 2009 3:44pm Mar 4, 2009 3:44pm
I traded it as a box trade. Locked in 113 pips and now trailing. Now at the 38 Fib on the last run up and a daily support number of 1.2750 or so.

Hoping it sees that point as resistance and doesnt break above it.
  • #2,613
  • Mar 5, 2009 4:40pm Mar 5, 2009 4:40pm
1.3000 determines the price direction for the next few weeks on this pair.
  • #2,614
  • Mar 5, 2009 9:24pm Mar 5, 2009 9:24pm
Potential Friday trade.
Attached Image
  • #2,615
  • Mar 5, 2009 9:27pm Mar 5, 2009 9:27pm
Quoting MackS10
1.3000 determines the price direction for the next few weeks on this pair.
I agree 100%.
Si vis pacem, para bellum.
  • #2,616
  • Mar 9, 2009 6:00am Mar 9, 2009 6:00am
The negative Housing indicator really affected the currency.
Why do we fall? "So we can learn to pick ourselves up."
  • #2,617
  • Mar 9, 2009 8:28am Mar 9, 2009 8:28am
Cashed in my longs today, very nicely, thank you.

Now, do we go up to 1.35 or down to 1.25? I live in Canada, and nothing looks good here, no matter what you read.
Si vis pacem, para bellum.
  • #2,618
  • Mar 9, 2009 12:29pm Mar 9, 2009 12:29pm
Nothing looks good in the U.S. either, yet the buck is riding high. I see CAD as being short term oversold, especially given that oil set YTD high today, and the quad-top @ 1.30-ish may yet materialize.
  • #2,619
  • Edited 9:28pm Mar 10, 2009 8:17am | Edited 9:28pm
USD/CAD plunged very quick for 350 pips with little resistance or without it. At some point I think it's very safe bet to long now. If it does head south I can almost guarantee there will be a major support.
  • #2,620
  • Mar 10, 2009 11:15am Mar 10, 2009 11:15am
UPDATE: Like I've said earlier I've banked 100 pips from the retrace.
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