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USD/CAD

  • #4,881
  • Feb 20, 2014 7:05pm Feb 20, 2014 7:05pm
Quoting Greener
{quote} for now it just look like recent highs can be touched again. For new highs I still believe that at least 1.0830 must be taken out first.
I have changed my analysis on USDCAD. New highs at 1.1298/1.1300 are likely based on my chart and considering only the upmove from Jan 2014+momentum+RSI levels. 1.0907 was the 50% retracement of that move. For anything above 1.13 I expect another dive at 1.0810-30.
  • #4,882
  • Feb 20, 2014 8:06pm Feb 20, 2014 8:06pm
Quoting OMGtrader
the move is just getting started. Look to re-test recent highs and also make new highs. Not much fundamentally stopping the CAD from dropping.
But does it move ever so SSSSLLLLLOOOWWWWWW!! God!! I can't remember the last time that I saw a pair move so sssllllooowwww
Make your losses in demo. Earn your profits live.
  • #4,883
  • Feb 20, 2014 8:58pm Feb 20, 2014 8:58pm
Quoting Forexia
{quote} But does it move ever so SSSSLLLLLOOOWWWWWW!! God!! I can't remember the last time that I saw a pair move so sssllllooowwww
you must wait until 1:30 pm GMT to see the fireworks
  • #4,884
  • Feb 20, 2014 9:17pm Feb 20, 2014 9:17pm
Quoting Forexia
{quote} But does it move ever so SSSSLLLLLOOOWWWWWW!! God!! I can't remember the last time that I saw a pair move so sssllllooowwww
it is moving slow because US & CAD banks closed right now. This pair is most active during NY/London over lap.
Trade what you see, not what you think!
  • #4,885
  • Feb 20, 2014 10:22pm Feb 20, 2014 10:22pm
Quoting Greener
{quote} you must wait until 1:30 pm GMT to see the fireworks
looks like big money's in...it may pause at around 1.115 but in my view big banks behind this upmove would like their TP quite soon and there's nothing suggesting this could be data dependent. Things were decided long ago and probably have to do with current US/Canada deals in the natural gas industry. It's just a question of waiting and seeing how high it can get.
  • #4,886
  • Feb 20, 2014 11:43pm Feb 20, 2014 11:43pm
Quoting Greener
{quote} looks like big money's in...it may pause at around 1.115 but in my view big banks behind this upmove would like their TP quite soon and there's nothing suggesting this could be data dependent. Things were decided long ago and probably have to do with current US/Canada deals in the natural gas industry. It's just a question of waiting and seeing how high it can get.
just to corroborate this analysis: Scotiabank forecasted 1.13 for Q1 and 1.15 for Q2. It looks like they are sticking to their schedule. Now you know what a 1.13 breakout leads to.
  • #4,887
  • Feb 21, 2014 12:33am Feb 21, 2014 12:33am
With the intraday bearish signals popping across the loonie world, the correction that will eventually give us opportunities to
get in may be on the way before long
  • #4,888
  • Feb 21, 2014 12:56am Feb 21, 2014 12:56am
Quoting Greener
{quote} just to corroborate this analysis: Scotiabank forecasted 1.13 for Q1 and 1.15 for Q2. It looks like they are sticking to their schedule. Now you know what a 1.13 breakout leads to.
Let's not forget that even if ST picture is clear, today is Friday and strange things tend to happen so be cautious.
  • #4,889
  • Feb 21, 2014 1:43am Feb 21, 2014 1:43am
still holding most of my longs from 1.0915... anyone taking off some profit before CAD CPI?
Twitter: @TrendersGame
  • #4,890
  • Feb 21, 2014 1:54am Feb 21, 2014 1:54am
Its not always slow, market is awaiting the high impact news events later on.
  • #4,891
  • Feb 21, 2014 2:05am Feb 21, 2014 2:05am
Quoting Citiboy
still holding most of my longs from 1.0915... anyone taking off some profit before CAD CPI?
That is up to you. However in terms of data I expect a positive CPI on negative sales which won't stop this from raising further. Today 1.12 is quite close....and 1.13 is around the corner. There's enough strength to get there if not today by next week or early next month.
  • #4,892
  • Feb 21, 2014 2:14am Feb 21, 2014 2:14am
Barclays: While price completed a Bullish Reversal day earlier this week, a close above 1.1090 would also complete a Bullish Reversal week. Volume is supportive of the up-move and we are staying bullish for a test of 1.1175/1.1225 and beyond to 1.1380.
  • #4,893
  • Feb 21, 2014 3:51am Feb 21, 2014 3:51am
Quoting Greener
{quote} looks like big money's in...it may pause at around 1.115 but in my view big banks behind this upmove would like their TP quite soon and there's nothing suggesting this could be data dependent. Things were decided long ago and probably have to do with current US/Canada deals in the natural gas industry. It's just a question of waiting and seeing how high it can get.
hi greener i have question did you know about us/canada deals in the natural gas industry before the bullish move on the chart and beside this
is there any way for us to know such deals earlier to trade upon it
  • #4,894
  • Feb 21, 2014 4:26am Feb 21, 2014 4:26am
HI

CAD now on fibo Resistance 78.6 .. I attach pic
Attached Image (click to enlarge)
Click to Enlarge Name: 2014___42.jpg Size: 241 KB
  • #4,895
  • Edited 5:22am Feb 21, 2014 5:06am | Edited 5:22am
Quoting Greener
{quote} you must wait until 1:30 pm GMT to see the fireworks
Quoting OMGtrader
{quote} it is moving slow because US & CAD banks closed right now. This pair is most active during NY/London over lap.
And fireworks indeed!!! It was ALL good!!! My target is hit and my -ve pips is now +ve pips!! The only thing I regret that I was still too polite. Should've set my tp at least 1.62x, the resistance level from back at end of Jan, with all those congestions and all, should've realized that would be the correct level. I gotta stop being too Canadian!!!

Good to know about the pair's active period. Thanks. Now I go back to sleep in a bit.
Make your losses in demo. Earn your profits live.
  • #4,896
  • Feb 21, 2014 5:22am Feb 21, 2014 5:22am
Quoting Greener
{quote} looks like big money's in...it may pause at around 1.115 but in my view big banks behind this upmove would like their TP quite soon and there's nothing suggesting this could be data dependent. Things were decided long ago and probably have to do with current US/Canada deals in the natural gas industry. It's just a question of waiting and seeing how high it can get.
Yup and looks like they are going for the gold! The next level is 1.12xx and after that, it's la la land. Judging from how the CDN$ is dropping so much against the USD$, I would say we probably got shafted on the natural gas deals big time by the US of A comme d'habitude but that's ok, we whopped their a55 in Women's ice hockey, Women's bobsleigh, Men's 1.5K M short track in the Olympics!! Now it's our ice hockey men's turn!! Go Canadians!!!

Sorry I gotta say that. That women's ice hockey's match of last night was EPIC!!!
Make your losses in demo. Earn your profits live.
  • #4,897
  • Feb 21, 2014 5:31am Feb 21, 2014 5:31am
Hot CPI, probably cause of slumping CAD.... probably stops this trend from doing much more in the near term. Sad....
Twitter: @TrendersGame
  • #4,898
  • Feb 21, 2014 5:40am Feb 21, 2014 5:40am
1.1120 and 1.1080 the choice levels for adding to longs? Anyone got anything else in mind? Moving my stop up to 1.0980
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 129 KB
Twitter: @TrendersGame
  • #4,899
  • Edited 8:51am Feb 21, 2014 6:48am | Edited 8:51am
Quoting mesi99
{quote} hi greener i have question did you know about us/canada deals in the natural gas industry before the bullish move on the chart and beside this is there any way for us to know such deals earlier to trade upon it
to tell you the truth I jumped in after the uptrend was already well established and did my research to find out about US/Canada deals.I don't have access to particular sources other than what's available on the net. It's all there. This country went from rate hike to rate cut talks last October, I just wanted to know what's was going on. Today data is not surprising: poor sales reflect bad weather and weakness in Canadian dollar. The weaker the currency the less you can buy. If exports and economy will benefit is yet to be seen. It's mainly the US the one who needed a weak Canadian dollar. US is also Canada biggest client. There will be a time when US expansion will do well to CAD. The biggest deal here is to sell when it gets to the highest. Canadian economy is a good investment. They are conservative in terms of finance unlike US and it is one of the few countries with a AAA. I am big fan of CAD next year.
  • #4,900
  • Feb 21, 2014 1:54pm Feb 21, 2014 1:54pm
Good candle formation on D1, i hope will get some pips next week
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