USD/CAD

Long since 1.3647, up 107 pips gonna ride this a bit, have a nice buffer in case of pull back, or might add to the position, not really sure how to trade leading up to this fed announcement.

Theres clearly a bullish sentiment.. so i feel that might prevail up until the big announcement.

Going to be really interesting to see where the price of Oil drops to, and where CAD will depreciate to. Followed by US Fed rate hikes, this pair looks like the bullish trend will continue...

This UsdCad monthly chart looks quite interesting to me. This multi-year trendchannel and trendlines are a major resistance ahead for this currency pair. I am suspecting around 1.3950/1.4050 longterm UsdCad Bulls will start to cash in their profits, midterm i am expecting this area to hold and we will fall back towards 1.30 and maybe reach 1.28 in H1 2016.



Personally i will watch daily/4h price action clues if we reach this 1.3930/4050 area that shows me that the bulls are getting weaker for a longterm sell towards the before mentioned 1.30. Weekly close above 1.42 should negate this view. I will also watch fundamental developments (Fed rates, oil prices, etc...) to get more clues before entering.

Staying short usd/cad first target 1.367

looks like we're experiencing some consolidation there.

End of the bulls soon?

I can see two scenarios here – the basic (1) and alternative (2).

Attached Image (click to enlarge)

Yep it looks pretty much like that.
The next days are going to be stormy.. Anyone will enter in a position before the news release?

Lets see if we can break 1.368, and then 1.362

Shortterm Buy UsdCad @ 1.3705 Stop 1.3674 Looking for 1.3760 as a finally target. Around 1.3735 gonna adjust stop to BE and take a small profit off.

USDCAD is more likely to witness a bounce from 1.3680-75 support-zone.

11:07 ET - The Bank of Canada says vulnerabilities posed by the housing sector to the financial system have edged higher, warning a correction in either the Toronto or Vancouver real-estate markets could have a "large direct effect" on the country's economy. In its semiannual financial-system review, the central bank says measures introduced last week by Finance Minister Bill Morneau--among them higher downpayments for pricier homes--are a "constructive response" to potential overheating in Toronto and Vancouver. In both, high price levels and the pace of gains raise BoC concern that activity is being driven by expectations of future prices gains, "thereby increasing the likelihood of a correction." ([email protected]; @paulvieira)
(END) Dow Jones Newswires
December 15, 2015 11:07 ET (16:07 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.

wanna see some witchcraft? See this post and following four about USDCAD and come back in some years
http://www.stevehopwoodforex.com/php...132773#p132773

UC eventually will have a retracement for a few hundred of pips but it is too early to call for a long term trend change. there are lots of ups and downs in between. right now i do not see any sign of weakness and to be honest i am expecting 1.39 first before any significant retracement.

Would not surprise me if it plows through 1.40 to reach 1.45 by the end pf the year - but who am I to predict

Poor loonie...Gonna get worse before it gets better.

there lies a great lesson for counter trend traders

well, I'll wait to see where she ends the day before I agree or disagree with that statement

tell that to our new PM, he going into larger deficits and more spending than ever.

maybe 1.60 next year?

Now that's wishful thinking.