USD/CAD Trading Room

USD/CAD is setting up very cleanly at the moment. See attached.

currently short on this pair after the 4H breakout and the touch of the daily/weekly trendline. price bounced off my first TP level twice .

I'm still long (2 green, 1 red lots) on my swing trades. But I'm scalping other pairs to pass the time. Nothing great, but no blood letting either.

Major overnight move for the USD brought the USDCAD down to 1.06 which is a solid resistance point for the USDCAD. Sustained volatility via the DCD indicator means that price may hang around here and range for today however I believe that a breakout on the downside may occur with the XZ indicator showing momentum has formed on the short side rather then the long side and the fact that the first Major ATR Stop has been broken.

Should price break below 1.06 with a few sustained bars, i would expect price to continue short to 1.0550 at least at the next major support point.

I went short on this pair at 104452 today. Looks like it is in a nice downtrend. See what happens by today close. Picture is 3hr time frame.

Today I took short position and exit now, but probably can continue to go down....
I was little surprise when it reverse up, but realize, like on EU, that was only a reaction to news for after re-take down.

Lubo.

I think that many of buy-stop orders placed over the bullish divergent bar.

I posted yesterday (or the day before, I think) only in passing while chatting with a couple of the forumites in there.

However, my numbers are stll the same. 1.0602 is a wait and see line. This was my TP on two lots, thank you. Above that I have 1.0662 and 1.0695. Below, aside form today's pivots and R/S lines, I have 1.0563 and 1.0509. Even lower is 1.0411. Not for the faint of heart if you're scalping.

I always have longterm swing trades going (1.0785 is something I'd like to see). But this could always go down again.

Stay focused and NEVER get greedy. This fx thing is always moving so no reason to jump in without some sort of analysis.

Today's R1 is 1.0521 (where we're sitting above right now). R2 (where we were earlier today) is 1.0570. Again, keep an eye on 1.0509. Let's see where we close today.

Guys tell me can is posbile GBPUSD sell and USDCAD sell in same time ?

yes. there's a low correlation between them.

hm, well it's possible, you can open trades in any directions, just it's kinda rare that you can trade GU and CAD in the same direction.

http://www.mataf.net/cache/graphes/d...9e5d8649f8.png

http://www.mataf.net/cache/graphes/8...15cc273604.png

-2.3, 10 ... not as tight as a hen's butt, what do you think?

Hmm thanks guys

I was speaking with a couple of business associates and trying to get their thoughts on the upcoming Christmas season. They are directors at two different national computer distrubutors (not national retailers) and they are expecting only 40% of last year's sales number (YIKES !) Prices will need to be seriously slashed to try and entice the consumer to buy some big ticket items. Even their 4th quarter Year-over-Year growith is NEGATVIE (-)19%, not including the 5-6% growth they expected to get. So actually, they are down 25-26%. Again, not good numbers. And to boot, the media is complaining that $80 oil is killing any chance of recovery. I believe it too. I look out my window all the time, and even though product is moving, the margins are razor thin. No real growth here. If you're a cheapskate, you may find some great deals this Christmas season, but it won't be enough to jolt the ecomony. Ho! Ho! Ho! Bah, Humbug !

http://www.theglobeandmail.com/repor...rticle1370172/

My numbers matched the fundamentals this week quite nicely, which proved to be a very profitable week, both in scalping and the return to my swing tades. Money management is key, boys and girls. If you read my posts from this week, all the (long) lines got hit and kept going up. But I will admit, oil had to drop to help me...and it did.

Anyways, down for me is 1.0662 and up is 1.0785. That's my short term field of range.

I shorted the USD against the CHF and EUR as a hedge against my open USDCAD longs. Made some nice pips, but it pains me to look at my very red USD longs. I need some turkey and a long nap. Wake me up when it's over.

USD/CAD has been stalling for the last 4 hours at 1.0450 area which coincides with Nov. 18 lows. I would also think there will be some stalling around the Nov. 16th low around 1.0425 as well. I think, in my opinion, that 1.0415/16 (low of Oct 9 &22, Nov 12) will be the fulcrum for either a reversal or a push lower.

I have a feeling that with N.Y. out of the picture tomorrow, we could see a to 1.0370/80 support...Just a feeling and nothing I would bank on at the moment.

We'll find out soon enough.

Laaate,

Veng.

and a few extra pips in the account at the expense of some EUR longs. Thanx folks. Easy go...easy come back to me.

I don't care what tomorrow's number will read, I know of some serious layoffs that have happened in a few sectors (telecommunications being one). I know of quite a few who have run out of benefits and I know of a few companies that will be laying off in the new year. There was definitely some employment gains in late November, but mostly seasonal and I can't see it offsetting the unemployment numbers. If the numbers show higher than expected employment, I would definitely take it with a grain of salt. No, I'm not a doom and gloom guy...just a realist. Let's see what the December retail numbers will be.