with such news CAD is still holding strong, that tells you usdcad has further downside risks
Ignored
You are wrong my friend, it has to technically prepare and close the week and month in such a form, that for the new month, its in a stage to rally up ahead..
Classical chart patterns of currencies from 15+ Year Pro Trader
the bottom is found around 1.0820 and my opinion is that everything under 1.09 is discount. any fall through 1.082 and discount would become a premium but let's focus on bullish scenario for now.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
USDCAD is..strong. Together with some fundamentals ( http://www.theglobeandmail.com/repor...ticle18940268/) maybe 1.2 this year. It seems that BoC is more scared of low growth than inflation. And if exports are the main factor for fueling the growth, maybe more weak loonie is in the cards.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
Waiting for a good pullback to add new longs. A bad PMI would be helpful.
Ignored
Where were you when the price went down?
You should be awake whenever such opportunity comes.
I have been filling USDCAD since 1.1025 zones.. and also 1.08xx levels too..
Its going 1.16 zone in coming weeks.. good luck..
I do not see any pullback now, it has broken the bullish wedge, Up it goes now.. many traders have been waiting so patiently on this pair.. like myself..
Classical chart patterns of currencies from 15+ Year Pro Trader
{quote} Where were you when the price went down? You should be awake whenever such opportunity comes. I have been filling USDCAD since 1.1025 zones.. and also 1.08xx levels too.. Its going 1.16 zone in coming weeks.. good luck.. I do not see any pullback now, it has broken the bullish wedge, Up it goes now.. many traders have been waiting so patiently on this pair.. like myself..
Ignored
I have been buying all the way down, averaging, closing some profits. I bought into 1.0820 last Friday too. I am not letting positions run, as soon as they hit 20-30 pips I close them and then buy again at the next opportunity. Bought just before at 1.0893 after the dip on bad PMI.
{quote} I have been buying all the way down, averaging, closing some profits. I bought into 1.0820 last Friday too. I am not letting positions run, as soon as they hit 20-30 pips I close them and then buy again at the next opportunity. Bought just before at 1.0893 after the dip on bad PMI.
Ignored
Ok. Keep some positions for long run too.. It would help you to buck in more good strong profits..
And keep some for scalping..
Classical chart patterns of currencies from 15+ Year Pro Trader
USDCAD is heading towards important horizontal resistance level of 1.0940, breaking which it can extend its up move to 1.0965 and 1.0990. Should the pair reverses from 1.0940 level, 1.0920 and 1.0900 can become strong support for the pair.
