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USD/CAD

  • #3,401
  • Edited 8:51am Oct 19, 2012 8:45am | Edited 8:51am
The actual CPI data was very mild considering what yesterday's BoC comments lead us to believe, and since anticipation of much worse news was already priced in by the time of the CPI release I'll wait until we see 0.99 (and 80.0 for the JPY/CAD pair) attacked and defended before I re-enter bearish CAD positions because I think the "big move" is over.

I also think the direction of USD is what's going to drive this pair so I'm taking a look to find the best technical set-ups pending US housing data in a few minutes. I think USD/CAD is in a bull channel and the best we can hope for today is 0.9950 which coincides with the top of the channel, resistance from peak of the bounce in August, and the 61.% percent extension of the Fibonacci from the recent 0.976 low to the 0.988 high on the daily charts.
You can always make money tomorrow provided you don't lose it today.
  • #3,402
  • Oct 21, 2012 9:52am Oct 21, 2012 9:52am
It is approaching 1.0050-70, which is a significant pivotal support-turn-resistance zone. From the 4hr chart, it is clearly visible that USDCAD turns at this critical S/R zone. Watch for it to re-test 1.0050-70. Go short if it fails to breaks above this zone.

Short 1.0050-70
Stop loss above 1.0100
First target profit 0.9900

http://i46.tinypic.com/311x9xs.png
  • #3,403
  • Oct 21, 2012 11:30am Oct 21, 2012 11:30am
You could be right.

Quoting ForexMGames
It is approaching 1.0050-70, which is a significant pivotal support-turn-resistance zone. From the 4hr chart, it is clearly visible that USDCAD turns at this critical S/R zone. Watch for it to re-test 1.0050-70. Go short if it fails to breaks above this zone.
Is it unreasonable to think that the reason that we suddenly have cheap gasoline for our cars is to make the sitting President look good just before the election? If Oil continues to fall for the next three weeks...you could either Long UCad up to this zone, or Short CadYen until after the elections.

Best,

Eric.
Attached Image (click to enlarge)
Click to Enlarge Name: ucad_daily_20121019.gif Size: 18 KB
" Be always employed in something useful." - Benjamin Franklin
  • #3,404
  • Oct 22, 2012 1:38am Oct 22, 2012 1:38am
Quoting cougar73
You could be right.



Is it unreasonable to think that the reason that we suddenly have cheap gasoline for our cars is to make the sitting President look good just before the election? If Oil continues to fall for the next three weeks...you could either Long UCad up to this zone, or Short CadYen until after the elections.

Best,

Eric.
I ain't from the US. From where i come from, the price of gas at the gas station remains the same whether oil is $50 or $130. Its a cartel over here.
  • #3,405
  • Oct 22, 2012 11:10am Oct 22, 2012 11:10am
Simply a nice week with a +140 pips gain and closing at the highs for the week. Looks very bullish at first glance but looks can be deceiving at times.

Do not be caught on the wrong side of the market here. I will explain in the video way this powerful up move which looks solid could very well be a trap.

Inserted Video
  • #3,406
  • Oct 24, 2012 4:56am Oct 24, 2012 4:56am
Hi, my setup is little different. I will go short when price break 0.989 level because of nice candle with long upper shadow. Also price just jumped off 38.2 FIB which I really like. SL just above it at 0.998
Attached Image
  • #3,407
  • Oct 24, 2012 6:42am Oct 24, 2012 6:42am
Quoting KADC
I assume this system is working for you, else you wouldn't keep using it, but are you using it alone or in conjunction with something else?
Well, I can say that I use Ichimokru kinko hyo in addition to Murray and it seems to me that it works rather good. So I decided to share my results and expectations.
  • #3,408
  • Oct 24, 2012 6:45am Oct 24, 2012 6:45am
Well, here is my forecast USDCAD:
BUYIf the price breaks the level 0.99445 bullish movement will start. Aims of the bullish movement: 0.99685, 1.00185.
SELL
If the price breaks the level 0.98973 bearish movement will start. Aims of the bearish movement: 0.98493, 0.97744.
Have a good trading.
  • #3,409
  • Oct 26, 2012 12:35am Oct 26, 2012 12:35am
I feel it's worth a shot to go long.

SL 0.9925
TP 1.00500
Attached Image(s) (click to enlarge)
Click to Enlarge Name: christmas trade2606if.gif Size: 14 KB
Click to Enlarge Name: christmas trade2607if.gif Size: 13 KB
Come with me if you want to live....
  • #3,410
  • Oct 26, 2012 3:41am Oct 26, 2012 3:41am
or maybe a strong fall ....
i think First Tp is 0.9905
keep stop above 0.9967 - about 5 pip
Attached Image (click to enlarge)
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  • #3,411
  • Oct 26, 2012 5:58am Oct 26, 2012 5:58am
I'm going to:

SELL
If the price breaks through the level 0.99335 bearish movement will start. Targets of the bearish movement: 0.98877, 0.98572.
  • #3,412
  • Oct 26, 2012 2:20pm Oct 26, 2012 2:20pm
.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: christmas trade2607if.gif Size: 15 KB
Click to Enlarge Name: christmas trade2608if.gif Size: 15 KB
Come with me if you want to live....
  • #3,413
  • Oct 26, 2012 3:38pm Oct 26, 2012 3:38pm
http://i.imm.io/JiRo.gif
  • #3,414
  • Oct 28, 2012 11:00am Oct 28, 2012 11:00am
Bearish confluence at this level:

0,618 Fibonacci Fan
EMA200
Up TL of the channel
Bearish divergence
Near the end of the cycle.

Attached Image (click to enlarge)
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  • #3,415
  • Oct 28, 2012 9:00pm Oct 28, 2012 9:00pm
Quoting mikijk3
Bearish confluence at this level:

0,618 Fibonacci Fan
EMA200
Up TL of the channel
Bearish divergence
Near the end of the cycle.

Attachment
I personaly think that the CAD will weaken a lot for the coming weeks. Global uncertainty will drive Oil price down, which will drive CAD down. The summer is over and Oil price are moving down, technically CAD has to go down. But maybe there will be a retrace before that and that your trade will be a winner
I will become the World's best at my own style
  • #3,416
  • Oct 29, 2012 10:29am Oct 29, 2012 10:29am
hello. I am using next forecast today: Buy if the price breaks through the level 0.99675 bullish movement will start. Targets of the bullish movement: 0.99945, 1.00403. Sell if the price breaks through the level 0.99335 bearish movement will start. Targets of the bearish movement: 0.98877, 0.98572.
  • #3,417
  • Oct 29, 2012 10:40pm Oct 29, 2012 10:40pm
UCad has been on steroids for whole week without any retrace. 10050 major resistance waiting but keep an eye for possible retrace at least 60pips.Understand the correlation.If Euro goes up short the Cad
http://www.forexfactory.com/attachme...5&d=1351563649
In trading, you have to be defensive and aggressive at the same time
  • #3,418
  • Oct 30, 2012 12:15am Oct 30, 2012 12:15am
UC moving off a lower weekly TL, this could be a very good sustained bullish move for weeks.
Come with me if you want to live....
  • #3,419
  • Oct 30, 2012 2:11am Oct 30, 2012 2:11am
Attached Image (click to enlarge)
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  • #3,420
  • Oct 30, 2012 5:06am Oct 30, 2012 5:06am
i also see an upmove here but waiting for a retrace to make any orders.
Attached Image (click to enlarge)
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