USDCAD trend reversal?

Interesting post Max:

D chart suggests descending triangle( May 25 to present).

STO going up & RSI >50.

I still sense risk-aversion(not scientific, I know) & await comm$ to collapse.

See what Sunday brings & on 4H or H tf's -do some sells as a result of your input ().

Appreciate your time to post.

The FIRST wave of an assault by sea hit the shores of Canada today.
The barrage of refugee claimants is anticipated to render the Canadian government's health, welfare & Immigration Services useless.

The Canadian taxpayer has fewer & fewer $$$$ available for consumption. This will affect its strength. Thus; I shall short the Loonie.

Gold & Silver will escalate. Are we approaching the 2nd Leg down?

D tf: 1.0474 is 200 ema.

1.0493 is 08/12 Hi.

07/20-08/12 is down TL

When D candle closes > 1.0500 I shall be long ( inverse H&S should be justified).

D chart: down TL (Aug 12-16) & 200 ema converge @ 1.0429.

Break up for ME is buy. RSI is flat @ 50.

FOTO earlier this year mentioned NOV for events to clarify.

Risk aversion appears to be gaining more favour.

Am taking special note of Wly chart ( if indeed an inverted H&S) mega pips await.

It ain't the LOONIE, but heck, it's free

Dtf: draw fibs (04/12 to 06/7 Hi to Lo) & 06/7 to 08/6 (Lo to Hi).
I see fibs confluence as well as support from 08/13 to present @ 1.2750.

KEY AREA

How you dooin'? I haven't been in here for quite a while but I have been trading the UCad. Scalping some longs. Still have one open, but not much pippage. All the currencies have been a little screwy this summer. It's quite alarming that with all the bad USD news, investors are not flocking to the greenback. This shows how little confidence they have in the dollar even as a safe haven currency. Normally, I would be longing the UCad under these circumstances, but with these summer time swings, I'll wait 'til the real world gets to work in September. The volatility of late has made trade a crap shoot. Better to stay out. But if I had to trade, I can't see any real strength for the USD, other than slight gains because other economies aren't doing so well either.

DUCE: My poutine-loving, pip-making friend real great to seez that you be alive & well!

Looking like some action (or at least direction) brewing on CAD & OZ.

Look @ this week's candle ( & iffen ya go back a few posts, inverted H&S forming on Wly) On Dtf:down TL ( Jul 20 - Aug 12) break. RSI & STO both up.

OZ: also looks like H&S forming on D as well as 4H RSI & STO heading down.

I still have small buy on CAD & looking to sell OZ next week.

Did anyone note the E/US trade mentioned yesterday?

Pip gods are smiling

DUCE; FOTO ( if you be around): await CAD break of 1.0500 & long it.
Likewise; sell Beaver.

FOTO, @ the beginning of this year related the Grasshoppers & Ants analogy. To my limited perception, markets & news displayed optimism re: the end of the recession.

When one reviews the Mthly charts; one sees a slight retracement.
It appears that the 2nd leg down is more apparent. My take is that risk-aversion is the mkt flavour.

On a microcosm view:the largest city in Canada is undergoing a mayorality ( & councillors) election. The incumbent mayor chose not to run for re-election ( I would classify him & his ilk GHs). The front-runner for mayor is an (Ant).
President Obama is also receiving negative press (in my humble opinion).

Ants & Contrarians may be views for your trading decisions.

Two words 2 all readers of the thread:

risk-aversion
Watch Cad/Chf for 9825 TP

D STO is in o/b area( but good angle&separation).

1.0390 could be good supp ( 50 ema) 1.0431 is 200 ema (also, support level). When 50 X's > 200 then I shall only buy this pair ( & sell the Beaver).

Lots of people reading this thread & nobody with feedback.

Anyone with military experience has heard the bugle playing " The Last Post". It is a sad farewell.

UCAD:

If it closes on Daily above 1.0633 then T1= 774

If it closes above 1.0667 on weekly then T1= 1.125

Great days ahead for looney one or the other.

Its been in a range far too long.

Nice to see someone who shares the same thoughts as me. Seems to me it's been a tough go trying to make pipage lately and hard to predict what he market is going to do from day to day. Hopefully Sept is much better.

neo1599: great post & charts.

Well; she closed > 0633. So we shall see.
My Wtf chart says "long" (via indicators).
D chart has STO o/b ( retrace?).

BUT CAD fundies are Not Great & US fundies are NOT GREAT!
I am positioning all my trades Risk-aversion.
Lots of news this week ( Thurs-Euro & CHF; also, NFP) Be careful with open positions.

Does anyone recall post #3529? Check out the Cad/Chf pair!

[quote=Scarecru;3967639]D STO is in o/b area( but good angle&separation).

1.0390 could be good supp ( 50 ema) 1.0431 is 200 ema (also, support level). When 50 X's > 200 then I shall only buy this pair ( & sell the Beaver).

Well, I am BULL ( 50 @ 200) if retrace, then 1.0450 good buy area.

Good day, eh. How are you Scarecru? Still having fun trading the loonie?

Yo Duce!: Still keeping yer stick on the ice?

Yeah, I be still trading the Loonie & watching an interesting shift in fx patterns. Used to be a given that comm$ moved in tandem wrt USD.

Tendency appearing that Cad fortunes follow US$ while OZ, KIWI follow
China's fundies. So I be focusing on OZ/Cad KIWI/Cad.

Still pip +ve so I guess that I'm having fun. However, the old rules are changing & more work required.
Watching OZ/CAD for 9:30 news- mayhaps make enough for my poutine fix.

I love this pair..... yo duce how is your trading? taking long or short now?anyone have an open position on this pair? i just open long position at 1.0514 target is 1.0630 i hope can reach that level soon.

Yeri: Going to wait for NFP dust to settle to trade.

D ema's suggest bull bias.

same with my trend, the EMA slowly show bullish trend.

Hey everyone. Haven't posted on the forums in a while. I'm new to the USD/CAD and put on two trades recently.

I'm currently long from 1.0544 targeting 1.0592. Read for more details.

Here is my last trade on the USD/CAD.