POLL- Trend Reversal or Retracement 0 replies
Are we close to TREND REVERSAL? 5 replies
The numbers keep coming out good for Canada. Domestic spending is up from a low interest rate environment and the strong currency helps consumption.
The capacity utilization #s today show that there remains a lot of unused productive entities available. The trade #s were skewed by commodities.
The housing has been good which might indicate job availability is there.
Lot of bullish sentiment towards a stronger Cad is built into the price.
If fridays employment is better then expected the push towards parity is bound to occur. If...Ignored
The numbers keep coming out good for Canada....Ignored
Dislikedi simply can't pass up a buying opportunity on a triple bottom- also goes with my bullish usd view. also, an upside down h&s may be forming on 1HR, with neckline around 1.0320Ignored
DislikedI'm going out on a limb here and saying we'll see 1.05 before parity! I think too many people were long on that triple bottom and shooting under 1.02 took a lot of them out... now that it seems parity is in the cards and the obvious play would be short USD/CAD, I think we shoot back up and we'll see that the 1.02 was a false breakout.
Just a gut feeling... but who knows, oil may keep shooting upwards, which will help the CAD gain ground and the overall US stock markets may keep continuing to climb and therefore cause the USD to weaken.Ignored
I (finally) have reduced my emotion factor in making trade decisions.
I do not NEED to be right in this thread - I only NEED to be correct when a trade goes to +ve pips.
Will cad pair go lower than parity & by how much? The "loonietek's 3 D's"
Don't lock into an emotional trade in order to prove that you are right!
CAD is top performing currency re: USD ( compared to OZ, Kiwi; Euro, GBP). If that begins to change, then re-think strategy.