should Ucad go up more?
- #8,985
- Jan 18, 2016 4:05pm Jan 18, 2016 4:05pm
{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....
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.
- #8,988
- Jan 18, 2016 4:22pm Jan 18, 2016 4:22pm
- Joined Aug 2008 | Status: Trader | 3,386 Posts
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
- #8,989
- Jan 18, 2016 4:25pm Jan 18, 2016 4:25pm
- | Joined Jan 2009 | Status: Snr. Director | 1,158 Posts
Si vis pacem, para bellum.
- #8,992
- Jan 18, 2016 4:32pm Jan 18, 2016 4:32pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
As Above, So Below
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.
Trade like a sniper not a machine gun
- #8,994
- Jan 18, 2016 4:46pm Jan 18, 2016 4:46pm
- | Joined Feb 2011 | Status: Trader | 1,237 Posts
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.
- #8,995
- Jan 18, 2016 6:28pm Jan 18, 2016 6:28pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Elliott Wave for optimum entry, exit and risk management of trades
- #8,998
- Jan 19, 2016 3:45am Jan 19, 2016 3:45am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{image}
Elliott Wave for optimum entry, exit and risk management of trades
