USD/CAD

Monthly and daily say sell. Weekly is forming a very bearish candle as well. I'm not pleased with the close of the Daily candle (closed at the Daily 50% Fib roughly). I'd like to see a stall here and a drop to at least yesterdays lows. For now I've got my stop at breakeven. Good luck trading to all!

Drop to 0.9789 would be nice

here it is
Sell at 0.9911
Take profit* at 0.9852
Stop loss at 0.9952

Looks like a temp bottom @ 0.9840. A bit up from here, but down again to the next support.

does look tempting indeed, USDx is at cross roads however

lower to come then a nice swing low is most probable

Looks good to me

weekly count from the peak high at 1.004x looks good a mid term bottom(. 984x)... longs are gathering but Id like to see a nice pop down to kill the stops before a violent retrace

in any case a short term rebound to the long side is seemingly imminent

USD/CAD here


Daily Pivots: (S1) 0.9930; (P) 0.9962; (R1) 0.9983

Agree, too bad it didn't get lower.
If you look at EU which will probably go lower, then this could be the end of downside for now.

I knew Wednesday's daily wick was going to be an issue to close this week but it wasn't a very strong close thats for sure. I'm hoping the Gretzky Resistance, .99, holds now that we've closed below it!

there has been no bad news out of canada, and i live here and the main newspapers and media are finally starting to realize there are problems, in Ontario (Canadas largest province, half of Canada population lives here, and home of canadas financial capital - Toronto), manufacturing jobs are getting axed at an alarming rate, everything is going up in price which will hurt GDP (eg. transit prices keep going up) and an example of pensions being retarded is OMERS - one of the largest public sector pensions in Canada has a 2.8 billion dollar deficit this year and is only projected to return to surplus in the future.

on top of that Ontarios deficit is HUGE this year, and we face alot of the same problems as other developed countries mainly a growing older population and an increasingly smaller working population to support it, thus the reason i think for alot of immigrants being let into the country,

the premier of Ontario keeps asking public sector employees like teachers for cuts, the list goes on and on, but the cracks are definitely beginning to show, on top of that housing especially here in Toronto is ON FIRE there are about 30-40 new condo towers going up (i saw an article somewhere saying this is more than new york metropolitan area, the MAIN difference being new yorks population is well over 10 million, Torontos is about 2.5) with units prices in the 250K-1 million + its insane.

I think the one thing holding up the Canadian dollar at this point is our abundance of gold miners and our resource rich oil exporting provinces like Alberta.

6) USD/Cad - Monthly View - March - Daily Chart,

To your success,
Doctortyby - Tiberiu

I've been watching the same thing (4h). When I saw the right 2 candles at the end of April, I took a whole bunch of longs at .9855. I'm hoping we crack 1.0055 and hold.

I'm still holding my longs sub .99.. Break of 1.004x and close hints at a retest of 1.0400

I'll play for that...

wouldn't that be nice.

I'll be doin cartwheels for sure

KW remembers when we called the bottom on this thing and loaded up at 9420 for the ride above parity... That was a sweet play too..

USD will fly here soon 10%, but bad entry day as long; ill wait

Purely from a speculation standpoint, I haven't seen the dollar go above 1.08ish or below ~.94ish to CAD.

I trade usd/cad exclusively and it seems to be working so far on my live account. My strategy is pretty much to open a new micro trade with MT4 after every -75 or +75 pips or so, close any trade at 5+ pips (or whenever I get around to looking at my computer, or when I wake), and resubmit a order to short or long. Also, I do not use stop losses or take profits.

I was using forex.com for a while with a mini account and the rollovers absolutely killed me. $3 a day roughly. I recently switched to MBT and familiarized myself with the metatrader platform which allows me to avoid the FIFO rule (yes, I am in the states) and perform micro, mini, or standard lots. Unfortunately, it doesn't allow hedging - but, I only get a rollover/commission of .03 a day per trade open with lowish spreads so I can just let them sit for a week at a time if I need to.

So far so good. Good luck to everyone.

>> 6) USD/Cad - Weekly View - 06-09th of March - 4 Hours Chart in analogy with the 35 Pips Range Bars Chart.


Bearish Probability - if price will find resistence at 1.00 Level (Key Level between Weekly R1 Pivot and Monthly R1, just above the 200 SMA, also confluence with the Downtrend Line dynamic Resistence), then it will continue the downtrend to reach 0.992 (Key Level, confluence between Monthly Main Pivot and Weekly Pivot). further support would be 0.984 (last support) and 0.980(Key confluence between Weekly S1 Pivot and Monthly S1 Pivot).

Bullish Probability - If the price will break and confirm the 1.00 Level (Hystorical level, Key confluence between Weekly R1 and Monthly R1 Pivots, and Downtrend Line resistence), then we have a Downtrend reversal signal, and the price could reach 1.013 (Key confluence between Monthly R2 Pivot and Weekly R2)

To YOur Success,
doctortyby - Tiberiu