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USD/CAD

  • #5,541
  • Jun 5, 2014 9:13pm Jun 5, 2014 9:13pm
Tp 1.074
short from 1.094
  • #5,542
  • Jun 6, 2014 1:47am Jun 6, 2014 1:47am
Quoting skyhok
{quote} Good to know someone is counting the same way. All the best to your trade!
I think several EW analysts are counting the same way.

I've had a pretty terrible week so far trying to get onto this new wave... Let's see what happens. Shame about NFP today...
Anything can happen.
  • #5,543
  • Jun 6, 2014 2:35am Jun 6, 2014 2:35am
What is good bounce levels here? First time trading this pair
  • #5,544
  • Jun 7, 2014 1:13am Jun 7, 2014 1:13am
Quoting ddinnov
{quote} I think several EW analysts are counting the same way. I've had a pretty terrible week so far trying to get onto this new wave... Let's see what happens. Shame about NFP today...
Yes, I was sweating with the NFP. So far the count is still intact, unless invalidated above channel line.
Elliott Wave for optimum entry, exit and risk management of trades
  • #5,545
  • Jun 9, 2014 9:24pm Jun 9, 2014 9:24pm
looks good for long
  • #5,546
  • Jun 9, 2014 9:33pm Jun 9, 2014 9:33pm
Quoting Lamira
What is good bounce levels here? First time trading this pair
Use oil to track this and any good growth data from cad or usd
All posts are my personal opinion
  • #5,547
  • Jun 9, 2014 9:53pm Jun 9, 2014 9:53pm
Quoting Rtm
{quote} Use oil to track this and any good growth data from cad or usd
thank you
  • #5,548
  • Jun 10, 2014 12:56am Jun 10, 2014 12:56am
put a buy order in at 1.0871. sl 1.0845. if it bounces properly at 1.0880 i will cancel the order
Do what's right for you
  • #5,549
  • Jun 10, 2014 3:07am Jun 10, 2014 3:07am
Quoting momochi
put a buy order in at 1.0871. sl 1.0845. if it bounces properly at 1.0880 i will cancel the order
scrap that, proper charts infront of me now- one long order, 1.0881, sl 1.0868, second 1.0861sl 1.0842 will manage as appropriate if they get triggered.
Do what's right for you
  • #5,550
  • Jun 10, 2014 5:31am Jun 10, 2014 5:31am
The H1 chart of USDCAD signals that the pair is currently capped by descending trend line connecting the highs tested during the current month. However, reversing MACD line indicating a break of mentioned resistance near 1.0920, which in turn can fuel the pair towards 23.6% Fibo level of its recent up move, near 1.0930–35. On the downside, 1.0900 and 1.0890 can become important support for the pair before it plunges to 1.0870 level.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh1.png Size: 33 KB
  • #5,551
  • Jun 10, 2014 12:08pm Jun 10, 2014 12:08pm
Right Hand Shoulder in process of getting completed of Inverted Head & Shoulder Bullish Pattern. Bull Rise to be further seen
1.16 in 2 months time..
Dollar is also bullish later this year.. Oil is looking to weaken, which shall impact CAD.
As well Canadian Exporters want weak CAD, and feel 1.17/1.19 levels to be supportive.
SpotPip - we SPOT, you PIP
  • #5,552
  • Jun 10, 2014 11:40pm Jun 10, 2014 11:40pm
Quoting SpotPip
Right Hand Shoulder in process of getting completed of Inverted Head & Shoulder Bullish Pattern. Bull Rise to be further seen 1.16 in 2 months time.. Dollar is also bullish later this year.. Oil is looking to weaken, which shall impact CAD. As well Canadian Exporters want weak CAD, and feel 1.17/1.19 levels to be supportive.
I have held long for a month. Will be very happy to see 1.12, the previous top. I think it is a rrasonable target.Will be happier to see 1.15, 1.17, 1.19 ...
  • #5,553
  • Jun 11, 2014 5:27am Jun 11, 2014 5:27am
IMHO, 100-EMA break down on H4 suggests the Loonie to trade downwards in-conjunction with Daily Chart attached below (which shows USDCAD on consolidation phase).

Supports: 1.0870 , 1.0850, 1.0820 and 1.0800
Resistances: 1.0905, 1.0920, 1.0945-50
Attached Image (click to enlarge)
Click to Enlarge Name: usdcaddaily 11-06-2014.png Size: 46 KB
  • #5,554
  • Jun 11, 2014 5:36am Jun 11, 2014 5:36am
Quoting Fx_Anil
IMHO, 100-EMA break down on H4 suggests the Loonie to trade downwards in-conjunction with Daily Chart attached below (which shows USDCAD on consolidation phase). Supports: 1.0870 , 1.0850, 1.0820 and 1.0800 Resistances: 1.0905, 1.0920, 1.0945-50 {image}
Yes I do agree with you on this, although I see more upside than downside at the minute. Also if we manage to break above 1.0945 area and close around 1.0960, upside is eminent. Personally, I have few long entries which I plan to off-load above 1.1000 area. This week it is going to be consolidating only.
  • #5,555
  • Jun 11, 2014 5:43am Jun 11, 2014 5:43am
Quoting workingforex
{quote} Yes I do agree with you on this, although I see more upside than downside at the minute. Also if we manage to break above 1.0945 area and close around 1.0960, upside is eminent. Personally, I have few long entries which I plan to off-load above 1.1000 area. This week it is going to be consolidating only.
Agree, in the longer run, i see USDCAD near 1.0700 mark.
  • #5,556
  • Jun 11, 2014 5:52am Jun 11, 2014 5:52am
Quoting Fx_Anil
{quote} Agree, in the longer run, i see USDCAD near 1.0700 mark.
You mean 1.1700 mark, right ?
  • #5,557
  • Jun 11, 2014 6:08am Jun 11, 2014 6:08am
Quoting workingforex
{quote} You mean 1.1700 mark, right ?
No dear, I expected USD to weaken in the longer term which can make the pair vulnerable to test 1.07000 level. (Just my personal opinion, no offences)
  • #5,558
  • Jun 11, 2014 6:19am Jun 11, 2014 6:19am
1.16/1.17 upcoming in few weeks time.
Remember right hand shoulder is current being formed of Inverted H&S Pattern.
There is no signal for Dollar weakness, Yields are soon going to Jump
Crude Oil creating triple top, indicating weakness up-ahead.
Canadian Exporters want weak CAD.
Weekly Chart indicates an up-trend as well.
Its buy in Dips!
SpotPip - we SPOT, you PIP
  • #5,559
  • Jun 11, 2014 8:38am Jun 11, 2014 8:38am
nice set up for log
  • #5,560
  • Jun 11, 2014 8:47am Jun 11, 2014 8:47am
Quoting sergo
nice set up for log
Im long too @ 1.0875
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