USDCAD trend reversal?

we have overnight rate news today, let see guys, i hope this news can give us profit.

anyway where is everyone? this thread become so quite. is there anybody still trade this pair?

Hi bro
I don't post much because my work take most of my time and i trade part time , that why i trade long term.

Yes I'm still long as long as my system say so :-) Just closed 1 position of my long U/CAD because i have many other open trades and u know MM but my view still the same.

@egkid: same with me, actually i'm an engineer. lucky for me my office is not so busy right now. so i have enough time to post. .. i'm hope i can trade with more money and more time in the future....

50 pips already but still not closing my transaction still waiting for more further up trend.
happy trading everyone.

down to 1.0420 i'm adding my long. anyone else put a long transaction like me?

hmmm i plan to add my long at 1.0300. hopefully reached soon.

Time to get ESC my long, It broken my Area to down and i don't like it.
Just thought to say it as update [email protected]

still holding my long from 1.0620 and 1.04xx prepare to add more when it touch 1.0300 or 1.0270. i really dont know how to analyze this pair fundamentally. please advice from you guys that also fundamentalist.

@duce: where are you, what do you think of this pair now? is this pair still can go back to 1.07xx again? i need your advice..

I trade this pair on a swing term basis, pair has more downside to go but the best way to play usd/cad for now is to play it on the long side as long as the parity level holds, but its good to have it as a swing position and to keep your leverage low. As for now the pair has shown that its unable to keep a sustained break below the parity level, so to buy on dips would be preferred, like i said, keep you leverage low..

Hello Yeri,
You asked about using fundamentals in your trading. There are many factors in using them. There are the human kind that incorporates economics, and geopolitical concerns ( two primary drivers )
There are also natural occurencies for example drought, volcanic (dust in the air)

These fundamentals represent forces that over time influence the economies of Nations. It is the economic imbalances between Nations that generate in the long run, the factors that drive trends.

The market, being the human response to perceptions about what is going on constantly evaluates conditions and voices opinion as price fluctuations.

Most people who use fundamentals develop a scenario about the future potential impact of events. Then use that scenario as a basis for trading that vision of the future.

It really comes down to the individual interpretation about the outlook.
An assessment of general conditions will result in a bullish or bearish opinion. A position is then implemented and then time is allowed to prove or disprove that opinion.

You will find that most fundamental analysis is big picture. So the time frame traded is generaly weekly charts with entry/exits based upon dailies.

Most of forex factory posts are of traders who scalp, day trade, or swing trade. Few posters are interested in longer term position trading.

It becomes the choice of the trader to trade the time frame that makes the most sense to that individual.

Question: Do you think the USA can be held together by the flim flam people that are now sitting in control of the US Government?

Happened to go to motor vehicle today and there was an old codger who could barely walk. Pretty obvious from the soil on his hands, a man of the earth. That man finally after all his long years of service packed it in today.

The people whose guts and blood that built America are becoming part of history. Has the next generation with the manicures, the same precept of Kahuna?

Serious problems lie ahead people.

By the way, one could have bought this pair a short time ago, on the 50% retracement of the last daily upmove and the uptick in equities that corresponded. If one had a bullish scenario for USD/CAD

There may be another shot at this pair as the market will most likely trip over itself in glee if there is some glorious sounding pronouncement coming out of the finance minister meeting.

I believe it was Bismark who said in effect, nothing is confirmed until it is denied.

lucky for me i can take 200 pips profit from this up trend.. stil one transaction open wait for this pair goes to 1.07xx. if this pair goes down then i would like to take more long.... happy trading everyone.

Hey Yeri. I'm sorry I have not been posting in here lately. Mainly because I banked a few UC pips the last couple of weeks and decided to trade a couple other pairs. So I've been in a couple of other threads...reading, listening, studying. I haven't really posted there 'cause I'm a newbie of those pairs and I don't have anything intelligent to add.

As for the UC, I could have used a nice drop down as I need to buy some US for a business deal, and the cheaper the greenback the better. But that didn't work out for me. Oh well...a little less margin is better than 0 margin.

I think the CAD took a small hit only because investors piled into the USD. In speaking with a few of my friends up here, they still believe the CAD will gain strength. Personally, I don't know. I close some of my UC longs in the 1.07xxx area and should have shorted this pair, but didn't. I still hold longs, and will add if we get to 1.035xx area. Under 1.03 would have me re-evaluate a bit, but I'm still long-USD.

Again, I apologize for not hanging around here, but please PM anytime you're looking for me.

Now, I gotta go work out and watch Gene Hackman in action.

at last you're showing your nose, and give me help. thanks mate.....

This tuesday primaries across America will reveal a lot about the real state of the economy. No spin at the polls.

A big shift to oust incumbents although expected, must occur first.
Economic distress will be voiced loud and clear if this happens.

A voter shift to the right will be anti government, anti debt stimulus and the stock market may well crater.

Am remaining long USD/commodities.

can share your info with me? i can not anything at the internet right now....

Politics:
Primary Tuesday came and went. Prognosis for the US, voters want honest candidates in office without strings attached. Perhaps the next move is the desire for an honest currency.

USD/CAD is making second test of the 50% retrace level of last daily move as this post is being made. The USD index is revisiting the breakout level from the bullish wedge pattern. So far buyers of USD are stepping in at this point in time.

Will see how day closes out.

hmmm it touch 1.03xx again. i took more long at 1.0330. hope it will reverse from this level. of this pair down to 1.01xx again i will heavily long this pair....
happy trading everyone...

To those PMs that felt that I was too vituperative in previous posts- I apologize..... I shall refrain from "colourful commentary":nerd:

There had been an abundance of useful information on this thread that was beneficial. Hate to see this knowledge & the authors disappear.

Watch 1.0300 on D chart.

add more long at 1.0257, this pair is strongly pushed lower. it's a really good level to put long position... will add more long at 1.01xx

The ratio of buyers to sellers for the USDCAD is 1.79

This signifies that there are 1.79 buyers for every 1 seller.

Retail positioning is a contrarian indicator so further downside is expected.
http://i260.photobucket.com/albums/i...20100616082319