I am not a NEWS trader but all technical. The more I study the futures market, it seems logical for CAD to keep weakening - looks heavy - still long USD/CAD
I'm surprised USDCAD didn't go back up. CADJPY normalized back to pre- job numbers levels. Also, the NFP numbers were not that bad at all, they were more or less exactly as expected. Even the USDJPY recouped a lot of its losses. Why is USDCAD being so irrational? I am hoping for a big gap up on market open. Anyone else expect this?
I'm long 6 lots, which is much much much higher than my account size permits, but I thought that its a great opportunity, but now I am starting to get really worried.
I'm surprised USDCAD didn't go back up. CADJPY normalized back to pre- job numbers levels. Also, the NFP numbers were not that bad at all, they were more or less exactly as expected. Even the USDJPY recouped a lot of its losses. Why is USDCAD being so irrational? I am hoping for a big gap up on market open. Anyone else expect this? I'm long 6 lots, which is much much much higher than my account size permits, but I thought that its a great opportunity, but now I am starting to get really worried.
Ignored
Buddy, i am long 6 standard lots too.. from 1.0965. and also have at 1.1030 levels too..
I have an aim towards 1.16-1.17 zone.
You should have the strength and margin to hold the position even it goes to 1.0910 levels, if it maybe. I doubt it would..
It will rise up soon.. In weekend i am looking at all angles too. Currently USDCAD is oversold.. and CADUSD (Canadian Dollar) has more chance to fall.. So its good for USDCAD to rise upside.
Also Dollar Index is in a bullish potential zone too.
Lets see how it goes..
Classical chart patterns of currencies from 15+ Year Pro Trader
Joined Jan 2011
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Status: dump and pump
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Looking to short some USDCAD, USD has gone for a shit! All those bad numbers last week im surprised it isnt tanking now. USDCAD also broke out of a major support 1.1 level and is coming hard to final support of this range here with inside bars. Lots of short term bearish momentum also from the profit taking on CAD shorts.
Looking at a 4H TF from 1.1280 down to where we are now the most recent candle is probably one of the more convincing as it is probably the largest candle in the whole move!!
Looking to short some USDCAD, USD has gone for a shit! All those bad numbers last week im surprised it isnt tanking now. USDCAD also broke out of a major support 1.1 level and is coming hard to final support of this range here with inside bars. Lots of short term bearish momentum also from the profit taking on CAD shorts. Looking at a 4H TF from 1.1280 down to where we are now the most recent candle is probably one of the more convincing as it is probably the largest candle in the whole move!! {image}
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What bad USD numbers? There were no bad USD numbers all last week, including NFP, which was very much inline with forecast. I went back and checked and no economic release missed the mark last week.
{quote} Buddy, i am long 6 standard lots too.. from 1.0965. and also have at 1.1030 levels too.. I have an aim towards 1.16-1.17 zone. You should have the strength and margin to hold the position even it goes to 1.0910 levels, if it maybe. I doubt it would.. It will rise up soon.. In weekend i am looking at all angles too. Currently USDCAD is oversold.. and CADUSD (Canadian Dollar) has more chance to fall.. So its good for USDCAD to rise upside. Also Dollar Index is in a bullish potential zone too. Lets see how it goes..
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My margin doesn't have much room. I will probably close 2 lots on market open to be able to withstand a dive down to 1.09.
