USD/CAD

any short rebound or a correction soon to 1.264?

cad done

what do you mean done? is it going to drop to 1.264 level? or its going to continue to 1.29?

anyone thinking 1.2600?

still waiting for confirmation negative divergence of upcoming correction with even a possible test of 12800

New Leg down on Hourly

upcoming correction with even a possible test of 12800

Not much going on lately...

nothing much happening on this pair this week, its been ranging btw 2760 and 2670 regions, but soon enough there'll be some action.

If this comes out true then it wont be ranging any more. Lets hope so.
http://news.forexlive.com/!/rumours-...ement-20150709

waiting for the flag to break up

Viewed from longer term chart, particularly the monthly, USDCAD is at a very significant level, 1.2800. Without a convincing break to the above, the level will limit the upside potential.

The most evident feature on weekly is how 1.2800 have been respected in the first half of this year.

On daily, I noticed that:

1. price has hit 100% fib ext of 5.14-6.1 rally
2. the upside has been constrained by a. channel top and b. 1.2783 level(although I got 1.2779 on my platform, I do notice on several platforms the price did hit 1.2783x)
3. the move up is very well structured and looks a bit tired now

The takeaway is that the upside may well be limited, i.e. it may break to the upside by 30-50 pips to hit level like 1.2835, but a retracement will be more probably than a direct break up, and if it does break up, I will sell into it.

Also, if I take a short from here, I will try target 1.24, with 1.2535 as a intermediate level.

On hourly, depends on how you draw the channel bottom, I would say it is either being targeted or it has been abused, either way, the bias is towards the downside.

Recent CAD data like Ivey PMI, trade balance, building permits, are not all that rosy, market maybe pre-run a bad employment data which come in tomorrow, so be prepared for surprises.

p.s. On my chart, the monthly pivot comes in at 1.2388, maybe it will revisit that level this month.

http://www.fxstreet.com/news/forex-n...8-f1bbe6c2bacf

I don't trust the blue

down

so it broke up....

Just a fakey, don't expect any real break out until after Wednesday.

CAD big boyz are bunch of w**kers and cow*rds, they simply don't have the balls to play the hard game

I agree with you. I hate the CAD with a passion. But this is a pure USD stregnth play for me.

USD Strength coupled with oil weakness this morning. However, look at oil H4, I suspect some sort of retracement are due, which could lend to CAD retracement. Will see