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USD/CAD

  • #9,321
  • Feb 14, 2016 6:33am Feb 14, 2016 6:33am
Quoting Xumm
If it goes above 1.43 the uptrend will have resumed, in my opinion. This pair has been on a very strong uptrend in the last 2 years, I can't wait for that move to continue.
much remains situation with oil.OPEC is considering cutting output which will push oil to 35 at minimum pushing UC to 1.34 or even 1.30
when you look at CAD pairs you must also look at oil.Trends go into corrections and even reverse so nothing is set on stone.
In trading, you have to be defensive and aggressive at the same time
  • #9,322
  • Feb 14, 2016 11:25am Feb 14, 2016 11:25am
Hey all, I'm seeing more downward pressure on USD/CAD this week. I've got it all outlined in my forex trading weekly update here: http://www.forexmademillionaire.com/...ook-2-14-2016/
check out my blog: forexmademillionaire dot com
  • #9,323
  • Feb 15, 2016 3:09am Feb 15, 2016 3:09am
Very strong resistance zone is formed in the range 1.3833 - 1.3920. This zone is very principled in terms of risk. In the case of stable trading below the current target will be in the range 1.3591 - 1.3519. Otherwise, the risk of return will be present to the level of 1.4085, trading above which dangerous new search extremum top.
  • #9,324
  • Feb 15, 2016 3:38am Feb 15, 2016 3:38am
An alternate view:

USDCAD LONG setup of the month -
Completed a 2 weeks zigzag correction [4] at Fib retracement level, and resumed uptrend on [5].
Now setting up for the 3rd wave impulse.
Buy limit on deep retracement @ 1.3764 with tight SL @ invalidation of lower channel line for better R/R.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4 15Feb16.png Size: 55 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #9,325
  • Feb 15, 2016 4:03pm Feb 15, 2016 4:03pm
the most boring day for this pair
  • #9,326
  • Feb 15, 2016 6:32pm Feb 15, 2016 6:32pm
oil
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_1.gif Size: 193 KB
  • #9,327
  • Feb 15, 2016 8:40pm Feb 15, 2016 8:40pm
We are approaching the mid of the previous leg (1.2832 --> 1.4690) @ 3761. This level is also a strong support level dating back to the 1990's and 03/04

I have a couple of pending longs @ 3662 with 7 and 12 pip SL's. Great r/r here.
  • #9,328
  • Feb 16, 2016 3:05am Feb 16, 2016 3:05am
Qatar energy minister says have agreed to freeze output at January levels, thinks this will help stabilise the market: Rtrs
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_1.gif Size: 202 KB
  • #9,329
  • Feb 16, 2016 9:03am Feb 16, 2016 9:03am
what made this pair rally a 100 pips in the past hour?
  • #9,330
  • Feb 16, 2016 4:07pm Feb 16, 2016 4:07pm
My USDCAD outlook

USDCAD bullish avove 1.3950

Seems like USDCAD didnt make another low and it is printing higher. Oil pullback from the recent highs and it is looking very BEARISH for now. The long term trend has to be asssumed. Once USDCAD make Higher high, there is a good long entry on retracement.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 39 KB
HumbleTraders
  • #9,331
  • Feb 16, 2016 4:24pm Feb 16, 2016 4:24pm
Crude seems stabilizing and finding its bottom at 26.00 while we heading into Feb FOMC less than 24 hours. #USDCAD is on the head-and-shoulders pattern w/ neckline at 1.3800. It is wildly expected tomorrow FOMC would be dovish and March hike would less likely to happen.
Attached Image

I'd like to believe #USDCAD might be able to break under than neckline at 1.3800 AFTER FOMC.
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  • #9,333
  • Feb 16, 2016 9:01pm Feb 16, 2016 9:01pm
The USDCAD is consolidating around the 1.3800 level. No clear direction yet. Waiting for breakout and confirmation.
  • #9,334
  • Feb 17, 2016 12:59am Feb 17, 2016 12:59am
Quoting andoseg2
Keep an eye on the CAD : {image}
Update : long entry, consider to cover in proximity of prior resistance :

Attached Image (click to enlarge)
Click to Enlarge Name: cad.png Size: 32 KB
Money moves the market, not an indicator.
  • #9,335
  • Edited 5:34am Feb 17, 2016 5:20am | Edited 5:34am
Coming back down for seconds.
Buying the dip on deep retracement of wave ii, between 0.6182 - 0.812.
SL @ invalidation of lower channel line for better R/R.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15 17Feb16.png Size: 55 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #9,336
  • Feb 17, 2016 9:21am Feb 17, 2016 9:21am
Quoting skyhok
An alternate view: USDCAD LONG setup of the month - Completed a 2 weeks zigzag correction [4] at Fib retracement level, and resumed uptrend on [5]. Now setting up for the 3rd wave impulse. Buy limit on deep retracement @ 1.3764 with tight SL @ invalidation of lower channel line for better R/R. {image}

At your target skyhok. I like your plan. I'm in. Let's see if it rebounds.
  • #9,337
  • Feb 17, 2016 10:38am Feb 17, 2016 10:38am
Likely will break 1.3600

Note: not a trade recommendation
  • #9,338
  • Feb 17, 2016 11:42am Feb 17, 2016 11:42am
Quoting Ken A
Likely will break 1.3600 Note: not a trade recommendation
First it will have to break below 1.3660. It mostly likely will, but I wouldn't open shorts before I see it happening.
  • #9,339
  • Feb 17, 2016 5:50pm Feb 17, 2016 5:50pm
Quoting Ken A
Likely will break 1.3600 Note: not a trade recommendation

There is a Head and Shoulder pattern formed on Daily TF from Dec. 2015. FXSayWhat previously mentioned Head and Shoulder on 4Hr Tf with neckline on 1.3800. That

obviously has already broken. We are now just above the neckline of the daily Head and Shoulder pattern at around 1.3640. If the neckline breaks, there is a possible

scenario similar to USD/JPY set up. Potential 1000 PIP drop.
  • #9,340
  • Feb 17, 2016 5:53pm Feb 17, 2016 5:53pm
Quoting diggo
We are approaching the mid of the previous leg (1.2832 --> 1.4690) @ 3761. This level is also a strong support level dating back to the 1990's and 03/04 I have a couple of pending longs @ 3662 with 7 and 12 pip SL's. Great r/r here.

Diggo so far it has held spot on your target. Head and Shoulder neckline just below. Very important level here.
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