What is wrong with USD/CAD?

I've followed this pair for a long time now, and I've never seen it behave like this. Is it ever going to stop going down? There has literally been no upwards retracement for the past few days.

Thanks for pointing that out. I'm gonna buy the pair right around 9600 and look for three hundred back the other way as a risk-off trade. Wait for this little S&P rally to be done and then watch equities turn back down hard.

We'll see

Good question! As Gold and Oil rise, often times so goes the CAD. On the other hand, with the bad US balance sheet and no promise for a debt ceiling solution there's really no mystery as to why the USD is down vs. the CAD. Even with the uncertainty in the world today the USD has lost much of it's "safe haven" status
and gold has picked up a lot of that slack. How many days you ask? This trend has been on since October of '08'.

look here

http://www.forexfactory.com/showthre...82#post4741982

it's kind of building a broadening pattern

"Broadening formations are only found in topping formations because they are the product of unrealistic expectations on the part of bullish investors"

but i could be wrong

USDCAD likes 61% Fib level and has just completed a Weekly run down to that level. All indications at the moment show a bullish retrace about to begin; but remembering that this pair is in a heavy downtrend, so at this time all bullish trades will be against the Major trend...be careful out there guys, it's a diffeent market today that we play in

Yeah, I'm aware that the long-term trend has always been DOWN for this pair. I've been profiting from SHORT positions on this pair for a long time now.

I'm just confused as to why it's been SURGING downwards in the fashion that it has for the last few days.

I can't really enter into a short position now, because I always wait for an uptick before it resumes the trend. With this current behavior, all I can do is sit back and wait for it to end.

Well, this current behavior followed a bullish retracement that occurred towards the end of last week, so it may simply consolidate. Either way, it's risky to enter in either long OR short right now.

I like trading this pair because it doesn't like to "surge" like certain other majors (AUD/USD, EUR/USD, GBP/USD). I like the somewhat horizontal movement (that occurs MOST of the time) because it allows me to mitigate risk when selling on upticks.

However, the current behavior is simply untradeable.