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USD/CAD

  • #6,441
  • Oct 17, 2014 12:59am Oct 17, 2014 12:59am
USDCAD can test sub-1.1200 levels provided it breaks the 1.1240 support line. Moreover, a break of 1.1200 gives rise to expectations of 1.1150 test. Upside resistance of 1.1300 become important.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 41 KB
  • #6,442
  • Oct 17, 2014 9:00am Oct 17, 2014 9:00am
Struggling to get above 1.1250.
  • #6,443
  • Oct 17, 2014 10:18am Oct 17, 2014 10:18am
Quoting duderoo1
Struggling to get above 1.1250.
Still feel like we have have more small climb before the market corrects itself. We've maintained the 1.120 psychological support, and we've really only briefly breached the 1.122 bullish support on Oct 15 before going straight back up. I think the bears and market movers just want to test things before letting the bulls have their short reprieve.

Short term bullish momentum is cautious, but not quite dead yet. I'd expect things to level around the pivot point of 1.128. After that, I guess we'll just wait and see whether we reach the 1.13 margin today or early next week. Once 1.13 is breached, next resistance is at 1.135-1.138 zone.

Conclusion: buy the dips around 1.122. Take SL when the market maintains a price below 1.120.
  • #6,444
  • Oct 18, 2014 3:23am Oct 18, 2014 3:23am
Quoting duderoo1
{quote} If CAD drops perhaps a buying opportunity?
Hello duderoo...
i see u from the old country as am i, which province are u in ? as u can see from my profile i'm in KZN, Durbs.

anyway back to trading and your question...a few days later...Yes, buy when the Loonie drops, the question is when to buy as it drops ? right ?...my point is...2 trading days after your question my answer is still the same.

...i intend to elaborate deeper in my journal should u or anyone else be interested to follow thru...with charts obviously, because "a picture paints a thousand words..."
  • #6,445
  • Oct 18, 2014 11:49am Oct 18, 2014 11:49am
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 75 KB
  • #6,446
  • Oct 19, 2014 9:34pm Oct 19, 2014 9:34pm
short 1.275 s/l 1.40 targeting 1.10 area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.png Size: 61 KB
Click to Enlarge Name: Image2.png Size: 39 KB
Click to Enlarge Name: Image3.png Size: 41 KB
  • #6,447
  • Oct 20, 2014 3:03am Oct 20, 2014 3:03am
Same shorts opened but I have tighter SL 1.1296. If my stops are broken I'll reenter higher. Possible turns 1.1232, 1.1200 or 1.1193.
Good luck everybody!
  • #6,448
  • Oct 20, 2014 4:11am Oct 20, 2014 4:11am
Quoting sunshine
{quote} Hello duderoo... i see u from the old country as am i, which province are u in ? as u can see from my profile i'm in KZN, Durbs. anyway back to trading and your question...a few days later...Yes, buy when the Loonie drops, the question is when to buy as it drops ? right ?...my point is...2 trading days after your question my answer is still the same. ...i intend to elaborate deeper in my journal should u or anyone else be interested to follow thru...with charts obviously, because "a picture paints a thousand words..."
Hi Sunshine, from the Cape Town, glad to meet a fellow country men.
  • #6,449
  • Oct 20, 2014 10:16am Oct 20, 2014 10:16am
I took long 1,1268 if we break 1,1270 - 1,1290 zone probably we will go to 1,1380
  • #6,450
  • Oct 20, 2014 8:28pm Oct 20, 2014 8:28pm
Quoting Fx_Anil
USDCAD can test sub-1.1200 levels provided it breaks the 1.1240 support line. Moreover, a break of 1.1200 gives rise to expectations of 1.1150 test. Upside resistance of 1.1300 become important. {image}
hey, can i get a copy of your macd indicator? thanks
  • #6,451
  • Oct 21, 2014 12:57am Oct 21, 2014 12:57am
Quoting kabukyboy
{quote} hey, can i get a copy of your macd indicator? thanks
PFA.....
Attached File(s)
File Type: ex4 MACD Colored.ex4   5 KB | 387 downloads
  • #6,452
  • Oct 21, 2014 5:32am Oct 21, 2014 5:32am
Attached Image

The above chart is 3 hour chart for USD/CAD.
A channel is bounded by pink lines.
  • #6,453
  • Oct 21, 2014 5:20pm Oct 21, 2014 5:20pm
Attached Image

The above chart is 2 hour chart for USD/CAD.
  • #6,454
  • Oct 22, 2014 8:20am Oct 22, 2014 8:20am
USD/CAD being bid up by the big boys before getting dumped ahead of the likely maintenance in the interest rate differential favoring CAD ?
Enter Signature
  • #6,455
  • Oct 22, 2014 8:43am Oct 22, 2014 8:43am
Quoting san99
USD/CAD being bid up by the big boys before getting dumped ahead of the likely maintenance in the interest rate differential favoring CAD ?
What about the crude oil inventories?
  • #6,456
  • Oct 22, 2014 8:48am Oct 22, 2014 8:48am
Big boys have their positions open allready. Retailers going to suffer, mostly regular traders. CAD is the weakest atm. Tight stopp loss, on selling, we could see 60 pip up today.
  • #6,457
  • Oct 22, 2014 9:11am Oct 22, 2014 9:11am
I don't trade this pair but maybe once in a blue moon because its so crazy!! Why did it just drop so drastically after the rate announcement, it wasn't like anyone was expecting them to raise their rates........well I guess that's why I don't trade this pair, too crazy for me!
  • #6,458
  • Oct 22, 2014 9:12am Oct 22, 2014 9:12am
DAMN - I should've taken short position on AUD/CAD at the least for easy pips this morning.
Enter Signature
  • #6,459
  • Oct 22, 2014 9:19am Oct 22, 2014 9:19am
Quoting irongoose
I don't trade this pair but maybe once in a blue moon because its so crazy!! Why did it just drop so drastically after the rate announcement, it wasn't like anyone was expecting them to raise their rates........well I guess that's why I don't trade this pair, too crazy for me!
I don't know but it just seemed like the same old moves by the big guns lately with these news releases. They prime the market to an extreme one way or another and trap the herd, I guess. So for news that will take a pair long they get to buy in cheaply, and, in today's case, with news that will take a pair short they can short sell starting at the highest possible rate. Since it was expected that the rate would be held, it made no sense at all (in hindsight, and logically speaking that is) that USD/CAD was being bid up so high. BUT of course, hindsight is worth 2 cents and the markets are anything but rational .
Enter Signature
  • #6,460
  • Oct 22, 2014 1:31pm Oct 22, 2014 1:31pm
Tp 1.1255
sl 1.12
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.png Size: 45 KB
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