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  • #10,241
  • Sep 29, 2011 5:22am Sep 29, 2011 5:22am
Trader Wulfgar said BOM (Bank of Montreal) 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 some impulse news.
Today we have couple of news and we all should have an eye on those coming from US and tomorrow from Canada.
Keep in mind that some bad news can also bring the pair down to its previous levels, though it's less probable scenario.

Here’s my optimistic bullish scenario:
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  • #10,242
  • Sep 29, 2011 6:33am Sep 29, 2011 6:33am
Quoting greenius
hello good looking and view but USDCAD will go now sideway for somw time to have strong news to change trend
Hi

A couple of levels worth noting on USD/CAD are 0.978, 1.001 and above price 1.067, the first two levels have nice fib confluence according to the current price action.

VP
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Nil desperandum
  • #10,243
  • Sep 29, 2011 6:56am Sep 29, 2011 6:56am
Quoting Saxon
two targets on NU. that AU also had a WR1 confluence
Hello Saxon

It is great to see your thread is still very active, I used to look in regularly (without posting much) and still rate it as one of the most informative threads there is here on FF.

I noticed your NU chart and have also got that level notched, here is my chart (although not much point posting it as it looks almost identical to yours!


I also am looking at a level just shy of 1.4 on the EU, some nice fib confluence going on there too.
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Nil desperandum
  • #10,244
  • Sep 29, 2011 7:30pm Sep 29, 2011 7:30pm
Quoting vincentprice
Hello Saxon

It is great to see your thread is still very active, I used to look in regularly (without posting much) and still rate it as one of the most informative threads there is here on FF.

I noticed your NU chart and have also got that level notched, here is my chart (although not much point posting it as it looks almost identical to yours!


I also am looking at a level just shy of 1.4 on the EU, some nice fib confluence going on there too.
Awesome charts !!! I have a bunch of limits in the same friction zone as you for EU. We both have 2 fib swings as well. Hopefully PA can get there and we can see the limits hit.
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  • #10,245
  • Sep 29, 2011 10:06pm Sep 29, 2011 10:06pm
An awesome view of what PA is doing on EG
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  • #10,246
  • Sep 29, 2011 10:09pm Sep 29, 2011 10:09pm
UCAD SR


If anyone is thinking about using P&F, stick to .001 X 3 box reversal. Go back 60 to give a good range and you should be set.
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  • #10,247
  • Sep 29, 2011 10:10pm Sep 29, 2011 10:10pm
Quoting Saxon
UCAD SR


If anyone is thinking about using P&F, stick to .001 X 3 box reversal. Go back 60 to give a good range and you should be set.
Hi Saxon
Did u read my private msg?
  • #10,248
  • Sep 29, 2011 10:16pm Sep 29, 2011 10:16pm
ya, just replied
  • #10,249
  • Sep 30, 2011 5:29am Sep 30, 2011 5:29am
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 at 1.0500 and hope to cash this out today…
hopefully, hopefully, hopefully...

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  • #10,250
  • Sep 30, 2011 8:17am Sep 30, 2011 8:17am
Guys, what now?
The price has finally reached its ceiling at 1.7740.
Bearish candles look promising…
Wouldn’t be great to go SHORT now and take a ride down with over 5% profits?
Or maybe it’s a trap?

In my opinion the uptrend momentum is still strong and didn’t fade away.
Not as at the beginning, but strong enough to push the price up to 1.7900 or even higher 1.8000
What now looks like a trend reversal is probably a correction movement.

Probably we won’t see any results today
Any “aussie&kiwi” comments recommended.

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  • #10,251
  • Oct 2, 2011 3:35pm Oct 2, 2011 3:35pm
Hi all,
just done some of my chart, market will open in about 30 minutes. I think we are going to have a rough week. Good luck all. I remain Bullish in USD and Bearish in Gold. Will be taking positions shortly.
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Find a job that you love and you dont have to work again in your life.
  • #10,252
  • Oct 2, 2011 6:03pm Oct 2, 2011 6:03pm
Something interesting from DailyFX

"What does this mean for the US Dollar? Normally we would claim that domestic economic weakness would hurt any given country’s currency. Yet the Greenback is fairly unique given that investors typically treat it as a safe-haven store of value. Thus economic weakness could translate into demand for safe-haven assets and in turn US Dollar strength. We expect that the US Dollar could actually rally on a disappointment in key economic data—even the critical US Nonfarm Payrolls report."

Very good article, should read it before trading this week:

http://www.dailyfx.com/forex/fundame...and_p_500.html
  • #10,253
  • Oct 2, 2011 7:04pm Oct 2, 2011 7:04pm
Here is the Bookie Report for this week.


Again, if you would like this auto-sent to your email, just send an email to [email protected]
Attached File(s)
File Type: pdf Oct 2.pdf   739 KB | 296 downloads
  • #10,254
  • Oct 2, 2011 7:11pm Oct 2, 2011 7:11pm
For all you divergence traders
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  • #10,255
  • Oct 2, 2011 7:15pm Oct 2, 2011 7:15pm
Me thinks Sexy spot for the Buy limit down near the big fat 1.0 #
Total S/D play

Have a Great Week Saxon!
t



Quoting Saxon
For all you divergence traders
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #10,256
  • Oct 2, 2011 7:25pm Oct 2, 2011 7:25pm
Quoting teemo
Me thinks Sexy spot for the Buy limit down near the big fat 1.0 #
Total S/D play

Have a Great Week Saxon!
t
You too buddy. This is going to be a crazy week
  • #10,257
  • Oct 3, 2011 5:24am Oct 3, 2011 5:24am
Good morning traders
After a week of free falling here comes the time for a pull back and take profits.
Since early morning (London) the price has been creeping along its strong Fibo and S/R level (1.33400), giving all indicators and oscillators enough time to generate new signals.
It’s happening on nearly all currency pairs.

It’s very interesting, daily, weekly and even monthly chart indicates BEARISH signals.
No doubt we stay in downtrend. We’ve already had 3 legs down and 2 legs up. This oncoming wave seems to be a tiebreak for weeks ahead.
Remember guys, there’s a crazy week ahead, a tsunami of news is coming up so situation on EURUSD can change dramatically anytime.
So this week we can have either double bottom or next 7th wave of existing downtrend. The solution comes this Wednesday and Friday.
But as far as now I'll try to grab few pips going long...

Attached Image (click to enlarge)
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  • #10,258
  • Oct 3, 2011 5:30am Oct 3, 2011 5:30am
Quoting Saxon
For all you divergence traders
Hi Saxon.
Yes, you’re right.
I don't use RSI myself, but on my other indicators divergence seems to be more then obvious.
Nearly all pairs seem to be exhausted.
It’s time to wrap up all trades and change direction for a day or two.

----
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  • #10,259
  • Oct 3, 2011 6:23am Oct 3, 2011 6:23am
From Bloomberg

"“The fact that there are some indicators in the U.S. that are showing at least a little bit of strength at a time when the growth momentum in the euro zone is stalling, that should oblige euro-dollar to move lower,” said Callum Henderson, global head of foreign-exchange research in Singapore at Standard Chartered Plc."
  • #10,260
  • Oct 3, 2011 6:30am Oct 3, 2011 6:30am
Quoting halkins
Hi Saxon.
Yes, you’re right.
I don't use RSI myself, but on my other indicators divergence seems to be more then obvious.
Nearly all pairs seem to be exhausted.
It’s time to wrap up all trades and change direction for a day or two.

----
Im getting mixed data from analysts. One moment they are saying we will be seeing 1.3/2 on EU and UCAD to see a retracement, then I refresh my terminal and there are other banks saying that we might see some movements up. Blommberg says one thing, Reuters says another. Making my head spin right

My view is that I am going to stick it out either way. I have some really solid Limits to the north and south of where PA is now. I think, for me at least, it is dangerous to take any long-term bets and enter the market right now. I am going to let the data come out this week, let the market digest it, and send it whatever way it wants. I am just going to set my targets north and south and wait. But you can be sure that have some large orders around 1.3+

Another thing, might want to have SLs wide this week as we are going to be having momentum either way.
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