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USDCAD trend reversal?

  • #4,341
  • Oct 17, 2012 4:16pm Oct 17, 2012 4:16pm
Wow, that's a serious daily bear candle.

Alas, the price is still contained within the medium/short term bull channel. So if you're bias is long, this isn't a terrible spot to add to the position.

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The long term bearish pennant is still developing. Personally I would like to add more short positions on a retrace to .9800 psych level and .9825 daily 50.0 fib. Still holding the partial position from .9870.

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  • #4,342
  • Dec 2, 2012 9:54pm Dec 2, 2012 9:54pm
this pair is dead, Canadian dollar is too strong, sell
  • #4,343
  • Dec 2, 2012 10:03pm Dec 2, 2012 10:03pm
Quoting staffpro1
this pair is dead, Canadian dollar is too strong, sell
If Euro drops buying will make sense otherwise this pairs" ADR is mediocre.Not worth trading and being stuck in small pips range.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #4,344
  • Dec 2, 2012 10:20pm Dec 2, 2012 10:20pm
the ADR for the last 2 weeks has been so paltry and measly, it is a pair for very very old people
  • #4,345
  • Dec 7, 2012 8:47am Dec 7, 2012 8:47am
down trend in place, canadian economy is on fire amazing
  • #4,346
  • Dec 9, 2012 8:50pm Dec 9, 2012 8:50pm
all the foreign capital rushing into CAD CAD is in demand especially after NEXEN and progress energy deal, we want china to buy all of our resources
  • #4,347
  • Dec 11, 2012 7:55pm Dec 11, 2012 7:55pm
short here
  • #4,348
  • Dec 13, 2012 3:39am Dec 13, 2012 3:39am
BUY
If the price breaks through the level 0.98572 bullish movement will start. Targets of the bullish movement: 0.98877, 0.99260.
SELL
If the price breaks through the level 0.98267 bearish movement will start. Targets of the bearish movement: 0.97963, 0.97656.
  • #4,349
  • Dec 13, 2012 9:07am Dec 13, 2012 9:07am
i agree with your analysis, two scenarios at play here
  • #4,350
  • Edited 4:07pm Dec 13, 2012 10:22am | Edited 4:07pm
Quoting candle779
BUY
If the price breaks through the level 0.98572 bullish movement will start. Targets of the bullish movement: 0.98877, 0.99260.
SELL
If the price breaks through the level 0.98267 bearish movement will start. Targets of the bearish movement: 0.97963, 0.97656.
9825 ->fibo 23.6 is holding and we are going north
Target ~0.99

cheers!


//edit
btw nobody with me?!
  • #4,351
  • Jan 8, 2013 12:32pm Jan 8, 2013 12:32pm
Quoting baczniew
9825 ->fibo 23.6 is holding and we are going north
Target ~0.99

cheers!


//edit
btw nobody with me?!

i made some pips on this pair but im expecting good news from canada etc
EU above 1,3 - still!! ->it should help CAD
price is near support 0,983
so ... i changed my mind
  • #4,352
  • Apr 21, 2013 10:00pm Apr 21, 2013 10:00pm
I'm long USDCAD from around these levels (rounded supremum) towards at least 1.035...ideally 1.04
  • #4,353
  • Apr 22, 2013 8:46am Apr 22, 2013 8:46am
Well I've been shorting this pair and have a take profit at 1.08. I came real close about a week ago to closing my trades. I have 8 lots that i am still holding and I am about -$9000.00, right now. I'm pretty sure that we haven't seen the correction from that last magnificent rise so I am still holding on for a retrace.
Mainly expecting the FED to announce something that will push the dollar downward, also expecting some good reports from Canada regarding equities performing well and finally getting the pipeline approved.

Happy pip!
  • #4,354
  • May 4, 2013 10:52am May 4, 2013 10:52am
I think ucad has a bit more room down, to about parity
New voice message: Why are you calling me? If I need you, I'll call you!
  • #4,355
  • Dec 16, 2014 9:35pm Dec 16, 2014 9:35pm
My time to buy U/C

Res 1.8750 ( 2007/02

RSI UP
  • #4,356
  • Dec 16, 2014 9:49pm Dec 16, 2014 9:49pm
Quoting KillerWhale
I think ucad has a bit more room down, to about parity

you think its going to 1.187
  • #4,357
  • Dec 16, 2014 9:51pm Dec 16, 2014 9:51pm
I've been long UCAD all day. Just waiting for it to move now.
Please check out my blog at https://from-zero-to-hero . net
  • #4,358
  • Dec 16, 2014 9:54pm Dec 16, 2014 9:54pm
Quoting smash1820
I've been long UCAD all day. Just waiting for it to move now.

im long to man had to stay away from the jpy it killed me today
  • #4,359
  • Dec 16, 2014 10:29pm Dec 16, 2014 10:29pm
Quoting Shai1122
im long to man had to stay away from the jpy it killed me today
Yeah, JPY is undoubtedly my favorite pair, but that doesn't mean it's ALWAYS the best pair to trade.

I haven't looked at it yet this entire week, so I can't really comment on it.
Please check out my blog at https://from-zero-to-hero . net
  • #4,360
  • Dec 17, 2014 2:46am Dec 17, 2014 2:46am
GC and UC is very difficult to trade for me, many times got loss on this pair.
any suggestion for me guys? (Beside stay away from it of course )
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