USD/CAD Trading Room

possible reversal of the downtrend:

also, passed its pivot point at 1.1249

according to M.A RSI and CCI , waitting a break of 1.1190 to enter short , our target will be 1.0880, and stop will be @ 1.1290
good luck everybody.

Guys, tell me please, what do you think:

will usd/cad return back to 1.2300 ?

hello
if you are watching the weekly chart, cad is forming a circul top, and he also break the up trend,the up move should limited at 1.1280 and he is going back to 1.0980 as a first target.
thats what i see (and maybe iam wrong)

good luck

The oil price climb is benefiting the loonie.
According to the RSI, the pair is clearly oversold.

and also the euro is leading the market those days, and he is attending to visit the 1.4200 area, the cad will continue the down trend even the rsi is in the oversold area!! dont forget to watch the monthly close today with the rsi.

and at the end iam just (50%) right

yeah, thats what iam talking about, now we mave our stop to the entry point, and for who is brave add short at 1.0970 for the same target..

good luck

The oil futures closed higher yesterday over 65 dollars per barrel, the highest level in 6 months, after the US inventories registered declines for the second month in a row.

very good shorting area here. next re-challenge of 0790 area should respark the downtrend.
AIMVHO.

Keep an eye out on the 4H H&S pattern in downtrend with potential breakout South.

Anyone see what i see "Bearish butterfly"??

usd/cad test area should be somewhere near 1.20. It could go anywhere from there.

I got a chart for you, guys, which basically shows it all, but let me still throw a couple comments:
There is a wonderful 38,2 retrace and which comes right to the red TL, as shown - is leading bearish PA since the middle of march, meanwhile forming a bear flag. It also managed to lousy form above daily 50ema, but it is not convinient base yet, as long as it doesn't show up above recent high of 1,1635. To conclude, I am bearish on the USD/CAD until the above number hoolds, with the targets based on fib expansion - 1st- 1,1, also a tricky round number and 2nd - 1,06.
for P.S., just want to add the chart of dollar index, which had broke out of the bearish flag and succesfully retraced to it and comming back down, which indicates of the futher negative impact on dollar.

Here is the last chart to sum it all up. If news are positive, and the TL on fundies holds, whatch for it to be a catalyst to breakout of the daily bear flag.BTW there is a GDP m/m anouncement this morning.
Don't try this at home:

I see sell chance from 1.1620 sl 1.1680
anyone share this view with me?

Me I am short at 1617, wish us luck .






Kim

I swing trade this pair. I'm in long from 1.1124. Had a long at 1.1025 but got rid of it early. Should have longed again at 1.0941, but chickened out.

My current SL is 1.1498 (I moved it up after today's move). My TP is 'let it ride'. But seriously, I will take some profits (forex-gods willing) at 1.1680 and then 1.1805. Those are my long term targets from this month.

Obviously commodoties have a lot to do with this pair. But I live in Canada...and I look around every day...things are not good. I don't care what the news says. When long term business 'friends' ask me for money, I know they are hiding their real financial situtations. I just hope they don't go under, 'cause that will take other with them.

Duce, am a Canadian living in Europe and i look around here too every day and see how bad things are here, both in Switzerland and EU, nothing compared with just a 0.1% GDP decrease back home.

When USD/CAD is trying to reach parity this is definitely a wake up call to go long as, i believe, purchasing power parity and daily trade will bring it back up eventually to 1.20-1.30.

In today's world, when Bernanke is aggresively pushing for lower dollar, i may stay on a short side of USD/CAD, but better focus on other pairs.

Anyone sees an opportunity with say, eur/cad or cad/jpy? CAD/JPY in particular has handsomely retraced and is getting geared up to shoot up. Somehow CAD underperformed in the last three weeks and got disconnected from commodities. Any thoughts on what could've been the reason? Any invisible hand of central bank intervention?

I can see a sideways market. What do you think if we go long now??

www.jeremiasgordillo.blogspot.com

I'm good , now we are 1.1455
Was long e/u 1.40 and mr expert keep explain to me to close my position because it will drop down.
Now we are 1.4150 OK Never again allow someone cancel my view