USDCAD trend reversal?

Beauty article re: T. Lane (Deputy Gov, BoC)
To MITA Jan. 13,2015 (google for full article).

MY TAKE ONLY: "...lower oil prices are also typically accompanied by a weaker Cdn$ & this time is no exception. The dollar's depreciation
by over 10% against the USD in the past 6 months will help cushion the economy from the impact of lower oil prices......
....lower oil prices are likely
,on the whole,to be bad for Canada."

I only trade Mthly charts,so do not follow my trades on daily or smaller TFs.



This post is fueled by a 3:1 ratio of screech/poutine:nerd:

\With no malice intended.I really hope that you are wrong as I am long.
Major correction to ?

just closed beaver sell (447$)

my poutine (cad/chf)sell JAN 13 @ 8476 closed @ 7154 JAN 16

15,467$ PROFIT
SNB will probably try to reverse,so I shall look for buys.

Swiss economy depends on exports.
High accumulation of foreign currencies to defend the franc. Guess they sold much of those.
They are Masters of finance & these moves are premeditated in their best interests ( I opine).

In my opinion,this move was well planned. There is "jawboning"."lines in the sand (1.200 Euro)"etc.from SNB
but this announcement was so totally unexpected & took markets unprepared.

Any Big Boys collapse?

I profited BUT for all the wrong reasons

buy stop 1.2023

Beaver: my sell @98.68

closed my loonie [email protected] TP 1.2112

my buy stop @ 1.2112 still on

closed beaver sell (.9868) closed @ 98.01

200 pips

[quote=Scarecru;8002087]my poutine (cad/chf)sell JAN 13 @ 8476 closed @ 7154 JAN 16 15,467$ PROFIT SNB will probably try to reverse,so I shall look for buys.

Tekkie : 1995/03 to '14/06 support broken convincingly.

The caveat that I am watching is the 11/8 monthly candle.For those interested check the wick!

obama's doing his state of the union address right now & the US is in great shape according to what I heard from his speech so far.

? loonie up.(U/Cad)

U/Cad buy @ 1.2112
moved stop to 1.2212 to lock in pips

C/Y (beaver) sell@ 95.68 Wish I hadn't closed prev trade @ 98.01

BoC ( I heard) will follow US interest rate So possible 2 to 3 bp drops upcoming.

As I stated before: don't know where $ will go, so just gonna follow support/resistance.

G/Cad buy @ 1.8729
Mthly RSI looks good & Cad news is suspect.

[quote=Scarecru;8013428]U/Cad buy @ 1.2112 moved stop to 1.2212 to lock in pips


Moved stop to 1.2312

[quote=Scarecru;8016977]
moved stop to 1.2412

Recenlty helpful people in here shared a good source of historic charts I would not try to catch any reversal on big frames before top of 2001-2002 is reached in this pair. A count on this chart shows that a retest could appear as it usually does after a fifth wave extension. It may be due to a firm dollar in the near future.

Alay thanks for the forward thinking chart.

I am still watching buys to '09/3 prev resistance @1.2775

moved stop to 8740

moved g/cad stop to 1.8800 to lock in profit

1.8933 Sept 2008 prev support possible buy to 9123

stop hit + 75 pips

[quote=Scarecru;8019968] loonie 2412 stop hit
+300 pips



Loonie sell 1.2487 closed @ 1.2398 89 pips

Loonie: Mthly still uptrend
Wkly RSI o/b
Dly: RSI o/b
Retrace to 1.2200?

Gonna grab some dinner & look @ Beaver, poutine & other cad X:s