Hi all! :-) I sold from 1.0237 with take profit at 1.0000... I am thinking very soon price will under 1.0000 IMHO
- #462
- Sep 28, 2011 8:58am Sep 28, 2011 8:58am
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #463
- Sep 28, 2011 9:12am Sep 28, 2011 9:12am
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
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- #464
- Sep 28, 2011 9:56am Sep 28, 2011 9:56am
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #467
- Sep 28, 2011 1:01pm Sep 28, 2011 1:01pm
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #469
- Sep 28, 2011 4:55pm Sep 28, 2011 4:55pm
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
Well I had to close my USDCAD short position with small profits.
The situation on USDCAD has changed dramatically over last 12 hours.
I was expecting last south leg as corrective movement, though the retracement turned out to be very shallow.
The price moved back only to 38.20 Fibo which confirms only how strong are bulls on USDCAD.
Now price is heading towards resistance @ 1.0400 and if broken I think we can see price jumping up to 1.0750 where there’s another strong S/R and Fibo area.
If 1.0400 sustain intact we'll have a nice double top.
Does anybody know why CAD weakened so much???
Here's new scenario if 1.0400 breaks
The situation on USDCAD has changed dramatically over last 12 hours.
I was expecting last south leg as corrective movement, though the retracement turned out to be very shallow.
The price moved back only to 38.20 Fibo which confirms only how strong are bulls on USDCAD.
Now price is heading towards resistance @ 1.0400 and if broken I think we can see price jumping up to 1.0750 where there’s another strong S/R and Fibo area.
If 1.0400 sustain intact we'll have a nice double top.
Does anybody know why CAD weakened so much???
Here's new scenario if 1.0400 breaks
Read Charts - Not Papers
- #470
- Sep 28, 2011 6:04pm Sep 28, 2011 6:04pm
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
Well I had to close my USDCAD short position with small profits.
The situation on USDCAD has changed dramatically over last 12 hours.
I was expecting last south leg as corrective movement, though the retracement turned out to be very shallow.
The price moved back only to 38.20 Fibo which confirms only how strong are bulls on USDCAD.
[font=Verdana]Now price is heading towards resistance @ 1.0400 and if broken I think we can see price jumping up to 1.0750...
BMO (Bank of Montreal) sees USD/CAD at 1.0750 at year-end
USD/CAD rallied from 0.9800 area to 1.0390 last week, where the pair found resistance
Trading in the Canadian dollar has been volatile in recent days.
BOC won't raise rates until 2013 Europe crisis to weigh on Loonie So says the Bank of Montreal
The bank says the global economic slowdown is expected to weigh on commodity prices and the Canadian dollar.
BMO expects the Loonie to remain around that level until the second half of next year before global growth will help push it back to parity with the U.S. dollar.
- #471
- Sep 29, 2011 5:15am Sep 29, 2011 5:15am
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
BMO (Bank of Montreal) sees USD/CAD at 1.0750 at year-end
You said BOM sees USDCAD at 1.07500 at the end of the year.
Looking on my weekly and daily charts I would even dare to say that this level can be reached in early October. All signals are bullish, momentum is strong bullish and if last barrier of 1.0400 is broken I see open space to reach that target.
I think now markets are awaiting any impulse news.
Today we have couple of news and we all should have an eye on those coming from US and tomorrow from Canada.
Though keep in mind that some bad news can bring the pair down to its previous levels...
Here’s my optimistic bullish scenario:
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?
- #473
- Sep 29, 2011 12:34pm Sep 29, 2011 12:34pm
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #476
- Sep 30, 2011 5:33am Sep 30, 2011 5:33am
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
Good Morning Traders.
Last USDCAD bearish bastion was finally taken, after London opening.
Previous strong bearish resistance @ 1.04000 has becomes bullish support from now on.
The final seal and confirmation of mid-term bullish trend can be brought by today’s Canada GDP at 1.30pm (London time).
With GDP worse then expected we can probably draw a thin line on 1.0400 for weeks ahead.
Both daily and weekly charts also confirmed bullish sentiment.
Though keep in mind that every “healthy and well fit” trend always goes two steps forward, one step back.
As it’s end of the week I am expecting TAKE PROFIT retracement pullback at 1.0500- 1.0550 area, just to rest, relax, take a breath and hit the road again towards 1.07500 next week…
I set up my TAKE PROFIT near 1.0500 and hope to cash this out today…
hopefully, hopefully, hopefully...
Last USDCAD bearish bastion was finally taken, after London opening.
Previous strong bearish resistance @ 1.04000 has becomes bullish support from now on.
The final seal and confirmation of mid-term bullish trend can be brought by today’s Canada GDP at 1.30pm (London time).
With GDP worse then expected we can probably draw a thin line on 1.0400 for weeks ahead.
Both daily and weekly charts also confirmed bullish sentiment.
Though keep in mind that every “healthy and well fit” trend always goes two steps forward, one step back.
As it’s end of the week I am expecting TAKE PROFIT retracement pullback at 1.0500- 1.0550 area, just to rest, relax, take a breath and hit the road again towards 1.07500 next week…
I set up my TAKE PROFIT near 1.0500 and hope to cash this out today…
hopefully, hopefully, hopefully...
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