EurCad Analysis and Trading Ideas | Forex Factory

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EurCad Analysis and Trading Ideas

  • #1
  • First Post: May 9, 2012 2:26am May 9, 2012 2:26am
Hello my friends.

As of lately I have had remarkable success in trading EurCad and after hearing other traders ideas I decided that we need a thread where we can discuss what is going on with this pair.

EurCad is a very interesting and fun pair to trade.

So this will be a thread where we can discuss our thoughts and of course try to make some money out of this pair.

The rules for this thread will be pretty lenient, as few rules as possible.
The main rules of FF will of course apply and our main subject will be EUR/CAD but if anyone wants to post something about other CAD related pairs that is okay also.

We can also use some fun in between and a sexy joke or picture will not be a reason to get in trouble.

Keep in mind, we can all learn from each other, which can benefit all of us.
There are no restrictions for this thread, like minimum V’s or so, so anyone can enjoy as long as he or she will try to have a positive mentality and bring a positive input to this thread.

Let's see what this leads to.

Happy trading to all
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  • #2
  • May 9, 2012 2:39am May 9, 2012 2:39am
I was waiting to see this thread. I hope we will find here some piece of knowledge about trading cad pairs, especialy EC. Congrats to you KillerWhale for the decision to open this thread. I will back here today and write what I noticed about corelation cad pairs with oil prices. I would like to know some other opinions about trading it watching oil.
  • #3
  • May 9, 2012 2:43am May 9, 2012 2:43am
Congratulations KillerWhale.
Looking forward to learn about this pair.
  • #4
  • May 9, 2012 2:46am May 9, 2012 2:46am
I'll jump on this, always wanting to learn another pair. I mainly trade e/u and sometimes trade g/u, a/u, a/j, e/j, and g/j. Hope I can help at times.

Best Wishes!

Cheers
  • #5
  • Edited 3:03am May 9, 2012 2:48am | Edited 3:03am
allow me to post my messy chart as first chat
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eucad.jpg Size: 110 KB
Click to Enlarge Name: eucad1h.jpg Size: 109 KB
Mohan
  • #6
  • May 9, 2012 3:01am May 9, 2012 3:01am
Quoting Tomoney
I was waiting to see this thread. I hope we will find here some piece of knowledge about trading cad pairs, especialy EC. Congrats to you KillerWhale for the decision to open this thread. I will back here today and write what I noticed about corelation cad pairs with oil prices. I would like to know some other opinions about trading it watching oil.
Thanks Tomoney
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  • #7
  • May 9, 2012 3:02am May 9, 2012 3:02am
Quoting aPIPor100
Congratulations KillerWhale.
Looking forward to learn about this pair.
We can sure learn from each other
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  • #8
  • May 9, 2012 3:03am May 9, 2012 3:03am
Quoting mohan76
allow me first me messy chart as first chat
Thanks Mohan
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  • #9
  • May 9, 2012 3:03am May 9, 2012 3:03am
Waiting till it starts moving
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  • #10
  • May 9, 2012 3:11am May 9, 2012 3:11am
Regarding UCAD it is at a point where I don't buy and don't sell.

The fact that I have never lost a trade in this pair his directly to do with the fact that I only buy below parity and only sell above parity.
May sound silly but that's where I feel safe
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  • #11
  • May 9, 2012 3:17am May 9, 2012 3:17am
Good morning all

All the best with a new thread KW
Since we are waiting for E/C what you are thinking about U/C??? are we going for 1,0510??
This was my entry from last night - purely technical and it failed and I'm thinking about new place to short this baby down

http://s17.postimage.org/k10xpdcin/usdcad.gif
adult image hosting

Regards

Edit just saw your post above - make sense now why this entry failed...
swing it!
  • #12
  • May 9, 2012 3:32am May 9, 2012 3:32am
Quoting tomspin
Good morning all

All the best with a new thread KW
Since we are waiting for E/C what you are thinking about U/C??? are we going for 1,0510??
This was my entry from last night - purely technical and it failed and I'm thinking about new place to short this baby down

http://s17.postimage.org/k10xpdcin/usdcad.gif
adult image hosting

Regards

Edit just saw your post above - make sense now why this entry failed...
I'm waiting till I see direction
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  • #13
  • May 9, 2012 4:06am May 9, 2012 4:06am
EURCAD is one of my favourite pairs too but the time for easy pips is gone in these days...very messy since april ..hope it will change back to easy soon

...this triangle forming shows market is really undecided for now, mainly cause of unclear situation in EU i guess.. i expect UC to not go higher than 1.005 for now so it all depends on EU if it breaks to up or downside
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_08 May. 09 10.59.gif Size: 64 KB
  • #14
  • May 9, 2012 4:07am May 9, 2012 4:07am
Been watching this Pair ( EC ) for 2 months now forming descending triangle on the D1 timeframe, the breakout to the downside as expected is very near til now the PA tells us that a bullish pinbar formed on a very important weekly up trendline ( the neckline of the triangle ) followed by indecision almost long tail doji, a break of this neckline will take us down to the other monthly up trendline on 1.2451 support.

This will happen very soon i believe.
Of course this is only my opinion and don't trust me i know nothing about the financial Markets.

Thank you for your time.
Attached Image (click to enlarge)
Click to Enlarge Name: ec d1.gif Size: 35 KB
Master Your Setup, Master Your self. (NQoos)
  • #15
  • May 9, 2012 5:08am May 9, 2012 5:08am
As I wrote before I want to encourage you to discoussion about relation beetwen pairs with cad and oil prices. There are many points of view in this case. In common Canadian Dollar is called commodity currency. It is that because of it is sensitive for changes on raw materials like oil, but is it real?

I was doing my own research here trying to prove some stronger corelation or just get nothing. I found results of compare gold and oil prices to US dollar, Canadian and Australian dollar prices. I got some conclusions:

- the highest corelation factor was noticed for gold and AUD in 5 years time frame +0,57 (in the same time USindex and gold corelation was -0,53)

- in one year the corelation of this three currencies to gold was from +0,3 to +0,5 (in the same time US index and gold corelation was -0,48)

-in one month frame corelation of CAD and gold dropped to +0,2 when USindex was still on -0,48 with it

- CAD was the mostly corelated with oil prices from compared three currencies. In one year corealtion factor was +0,29 when USindex in the same time was -0,21

We can also look at the chart which shows compare of aud/usd (red) and cad/usd (grey) to Thomson Reuters/Jefferies CRB Index.

It is a piece of informations. I post it to see your opinions and encourage you to do your own reaserch here. Personaly I'm still working at this corelation to get some satisfying conclusion useful in trading CAD pairs. Enjoy
Attached Image (click to enlarge)
Click to Enlarge Name: 1120032,325844,9.jpg Size: 31 KB
  • #16
  • May 9, 2012 5:29am May 9, 2012 5:29am
i agree USDCAD is well correlated to oil prices (around 80%) most of the time that's why i always watch the oil futures WTIM2 charts...but that doesn't apply as good to EURCAD

i like to look at EURCAD in a way of EURUSD without the risk component....so in the moment it is all focus on EU development...if I think all will go well in EU I am long EURCAD..if I think it will get worse I go short
  • #17
  • May 9, 2012 7:35am May 9, 2012 7:35am
There goes my little trade 200SMA seems to be hard to cross - fingers crossed.

http://s15.postimage.org/gsc8nwiyj/eur_cad.gif
jpg upload

swing it!
  • #18
  • May 9, 2012 10:11am May 9, 2012 10:11am
Quoting torkay77
EURCAD is one of my favourite pairs too but the time for easy pips is gone in these days...very messy since april ..hope it will change back to easy soon

...this triangle forming shows market is really undecided for now, mainly cause of unclear situation in EU i guess.. i expect UC to not go higher than 1.005 for now so it all depends on EU if it breaks to up or downside
In time we might have to go heavy short on ECAD, but not yet
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  • #19
  • May 9, 2012 10:12am May 9, 2012 10:12am
Quoting bassramy
Been watching this Pair ( EC ) for 2 months now forming descending triangle on the D1 timeframe, the breakout to the downside as expected is very near til now the PA tells us that a bullish pinbar formed on a very important weekly up trendline ( the neckline of the triangle ) followed by indecision almost long tail doji, a break of this neckline will take us down to the other monthly up trendline on 1.2451 support.

This will happen very soon i believe.
Of course this is only my opinion and don't trust me i know nothing about the financial Markets.

Thank...
I believe you are right but it is too soon for the big break to the downside
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  • #20
  • May 9, 2012 10:16am May 9, 2012 10:16am
Quoting Tomoney
As I wrote before I want to encourage you to discoussion about relation beetwen pairs with cad and oil prices. There are many points of view in this case. In common Canadian Dollar is called commodity currency. It is that because of it is sensitive for changes on raw materials like oil, but is it real?

I was doing my own research here trying to prove some stronger corelation or just get nothing. I found results of compare gold and oil prices to US dollar, Canadian and Australian dollar prices. I got some conclusions:

- the highest corelation...
IMO there are 2 main factors driving the UCAD
1. What is good for the US dollar is generally good for the Can dollar.
2. Oil prices
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