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USD/CAD

  • #9,101
  • Jan 21, 2016 4:50am Jan 21, 2016 4:50am
The trend might be up but it climbed too high for me to feel comfortable to open new longs. That said, it's currently consolidating and there is no indication that there will be a reversal, so who knows.
  • #9,102
  • Jan 21, 2016 5:00am Jan 21, 2016 5:00am
If will go up, i will consider this H&S...
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Trust only yourself
  • #9,103
  • Jan 21, 2016 5:12am Jan 21, 2016 5:12am
It could be also a buying opportunity if this current trend is not broken... or a sell in the contrary case

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Simplicity is the Ultimate Sophistication.
  • #9,104
  • Jan 21, 2016 5:37am Jan 21, 2016 5:37am
I see also oil reaching 20 which should put further pressure on CAD...

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Simplicity is the Ultimate Sophistication.
  • #9,105
  • Jan 21, 2016 7:23am Jan 21, 2016 7:23am
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  • #9,106
  • Jan 21, 2016 7:27am Jan 21, 2016 7:27am
Waiting for this

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  • #9,107
  • Jan 21, 2016 7:31am Jan 21, 2016 7:31am
Quoting Ken A
Waiting for this {image}
  • #9,108
  • Jan 21, 2016 7:32am Jan 21, 2016 7:32am
Quoting Ken A
Waiting for this {image}
Hi Ken. After these events can you make a decision on direction? If so please can you assist.
  • #9,109
  • Jan 21, 2016 7:35am Jan 21, 2016 7:35am
Quoting Freelve
{quote} Hi Ken. After these events can you make a decision on direction? If so please can you assist.
At this point I don't take new entry - but I took a short yesterday prior to BOC rate decision

I will probably take another short if making a HH

Quoting Ken A
Took a short at 1.466x risk 10 pips

Worth a try
  • #9,110
  • Jan 21, 2016 7:37am Jan 21, 2016 7:37am
Looks like we are going for 1.40-1.41
  • #9,111
  • Jan 21, 2016 7:39am Jan 21, 2016 7:39am
Quoting Ken A
Waiting for this {image}
API was up yesterday, hope we don't see something too dramatic today.
  • #9,112
  • Jan 21, 2016 7:40am Jan 21, 2016 7:40am
Now MARIO PRINTING DRAGHI
  • #9,113
  • Jan 21, 2016 7:45am Jan 21, 2016 7:45am
The U/Cad is trying to break lower just not sure if it has enough steam to do it. I'm still short from way back and in this one for the longer haul but a stall here might provide a short term lift higher for the day traders.
Attached Image
When you hit 50, coffee becomes part of a proper modeling pipeline.
  • #9,114
  • Jan 21, 2016 7:48am Jan 21, 2016 7:48am
Quoting Darkforce
{quote} API was up yesterday, hope we don't see something too dramatic today.
Yeah that API scared me yesterday - still have some crude long from yesterday
  • #9,115
  • Jan 21, 2016 7:49am Jan 21, 2016 7:49am
Whilst 1.4000 is also my initial target for the sells taken in recent weeks there are quite a few obstacles to get there and given the power in the move up, I'd expect this journey will have a few twists and turns...
  • #9,116
  • Jan 21, 2016 7:57am Jan 21, 2016 7:57am
...Longer term target for me is off 1.3500 which by coincidence also fits in with this projection I received from my broker (LCG) earlier this morning.

The Bank of Canada refrained from cutting its bank rate which sent the USDCAD to 1.4492 yet the pair quickly rebounded on falling oil prices and drastically lower GDP forecasts (to 0.0% from 1.5% in Q4 and to 1.4% from 2% average in 2016). UBS revised the USDCAD forecast on the upside. In yesterday’s note to clients, UBS analysts wrote ‘Our 3-month USD/CAD forecast is now 1.42, but oil remains key. We now forecast 1.35 for end-2016, when our oil & gas team expects oil inventory reductions and higher crude prices.’
Brazil Central Bank has also surprisingly kept the Selic rate unchanged at 14.25% (vs 25-50bp hike expected).
  • #9,117
  • Jan 21, 2016 7:57am Jan 21, 2016 7:57am
1h
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  • #9,118
  • Jan 21, 2016 8:09am Jan 21, 2016 8:09am
Quoting Dano12
1h {image}
Nice chart, I'll watch reaction here and maybe take a long scalp for a little pips.

Oil is not out of dangerous water just yet, maybe not before the storage data release.
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  • #9,119
  • Jan 21, 2016 8:15am Jan 21, 2016 8:15am
I agree, this is the reaction point and if it's going back up : right here is where the buy orders are stacked
  • #9,120
  • Jan 21, 2016 8:19am Jan 21, 2016 8:19am
Quoting Darkforce
{quote} Nice chart, I'll watch reaction here and maybe take a long scalp for a little pips. Oil is not out of dangerous water just yet, maybe not before the storage data release. {image}
h4 MA89 100
green

but waiting for data OIL
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