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USD/CAD

should Ucad go up more?
Quoting Conscript
{quote} Maybe BOC will not cut, probably would have if the fed wouldn't have raised rates, also the russians were raising rates not cutting when low crude prices were crushing their currency.But i'm subjective here have open shorts on UCAD
A weaker currency is good in short term but bad in long term. It means you lose out to the competition for international capital flows, no investment no grow. The decline in CAD is too much at its current level now. At some point the coin will flip, how so? Oil could bottom out, cross boundary business could move its manufacturing and service base from US to CAD because it is cheaper to operates there, etc.

I know many people point out the lowest level of USDCAD is 1.6189 in 2002, but what happened afterwards? It falls all the way to 0.9056.
BoC can not cut interest rates, because that will lead to a very strong rise of prices, and the low price of oil does not encourage that, I think BoC will raise interest rates , Canda is not japan
The supreme art of war is to subdue the enemy without fighting.
Can anyone please share his view that should USDCAD to down for a retrace or it should go up more ?I am in a trouble .
Quoting Darkforce
{quote} A weaker currency is good in short term but bad in long term. It means you lose out to the competition for international capital flows, no investment no grow. The decline in CAD is too much at its current level now. At some point the coin will flip, how so? Oil could bottom out, cross boundary business could move its manufacturing and service base from US to CAD because it is cheaper to operates there, etc. I know many people point out the lowest level of USDCAD is 1.6189 in 2002, but what happened afterwards? It falls all the way to 0.9056....
Thanks for the explanation. I wan't UsdCAD down but I don't think it will reach 0.9056 even if wti goes back to 150$, because I've noticed commodity currencies tend to depreciate faster over time than USD does.
Quoting 35pips
Can anyone please share his view that should USDCAD to down for a retrace or it should go up more ?I am in a trouble .
You can find here a few charts and possible levels https://www.tradingview.com/chart/USDCAD/.
I for one don't know, was expecting this to go down long time ago, and oil to reverse also.
thanks for sharing .Can you just give me your own prediction from the current price to the targeted down price?If it goes up ,can you also mark the area where can it go such as 1.4607 to 1.4xxx?
Quoting albarbary
BoC can not cut interest rates, because that will lead to a very strong rise of prices, and the low price of oil does not encourage that, I think BoC will raise interest rates , Canda is not japan
I wish I could help you, 35pips. Trouble is, most of us only trade based on educated guesses based on news, charts, etc. Sadly, the current USD/CAD climate is not totally rational and no-one has a crystal ball. But there has been enough news and candles to indicate a continuation of going up. But let's see what the CNY news does at 9pm. I don't know how much "trouble" you're in, but I hope you learn from the situation you put yourself in and I hope you make back all you lost.
Si vis pacem, para bellum.
Quoting 35pips
thanks for sharing .Can you just give me your own prediction from the current price to the targeted down price?If it goes up ,can you also mark the area where can it go such as 1.4607 to 1.4xxx?
I've expected it to go to 1.306. but that means oil to go back to 50-60 $ dolar per barrel.Wti is at 29 now if it goes to 25 USdCad will go to 1,5-1,6. will rise faster.Even if oil imediatley reverses from 29 now I think USDCAD will retest the high of 1.465 made before market opening from xe.com maybe in feb or march
Duce ,
you are right .Really I was in short trade .But I missed the train to pick up .I was in profit with 500+ usd but now going to loss almost 6000 usd.I have the equity to reach it out up to 1.4630 highest.I do not dare to add more fund there .therefore asking some prediction of higher area.Actually ,this time ,Head is hanged ,nothing comes out from my brain what to do.
my wild prediction is that this pair may reverse only after a huge ejection of about 400-500 pips (which will end up being a huge wick on weekly). no idea when will happen though. will keep sell orders with a few hundred pips distance for any possible puke. and to those who are holding shorts, may god help you. there are too many traders blew their accounts trying to short this and many accounts bleeding badly. trade safe.
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As Above, So Below
Quoting 35pips
Duce , you are right .Really I was in short trade .But I missed the train to pick up .I was in profit with 500+ usd but now going to loss almost 6000 usd.I have the equity to reach it out up to 1.4630 highest.I do not dare to add more fund there .therefore asking some prediction of higher area.Actually ,this time ,Head is hanged ,nothing comes out from my brain what to do.
This is my analysis strictly on the technicals.. It's not done going up.. Sorry man hope you don't lose your shirt in this but it doesn't seem this pair is done it's bull run
Trade like a sniper not a machine gun
Quoting tashkent
my wild prediction is that this pair may reverse only after a huge ejection of about 400-500 pips (which will end up being a huge wick on weekly). no idea when will happen though. will keep sell orders with a few hundred pips distance for any possible puke. and to those who are holding shorts, may god help you. there are too many traders blew their accounts trying to short this and many accounts bleeding badly. trade safe. {image}
Agree, only a very significant PA on HTF will do the reality call, just like what a huge slap on face will do to a person who's lose his mind.
SHS & abc with the c heading down to 1.4140 area.
Elliott Wave for optimum entry, exit and risk management of trades
not only rely on technical chart , must listen and watch the world politic and economic change...history can be a reference book but not a book to lead you to win.
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Quoting Dano12
{image}
Elliott Wave for optimum entry, exit and risk management of trades
Wow, I don't believe in luck in this game but my S/L was missed by 1 pip dead and now my long is 1% up so Sl at B.E.

About time it happened to me this way and not hitting my S/L dead on and then bouncing or retracing
Quoting Don96
Wow, I don't believe in luck in this game but my S/L was missed by 1 pip dead and now my long is 1% up so Sl at B.E. About time it happened to me this way and not hitting my S/L dead on and then bouncing or retracing
Lol having said that EUR/CHF short TP is at 1.0912, it hit 1.0911 and missed my TP by only the spread, been 2 weeks of the most minor misses
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