USD/CAD

USDCAD IDEA
If it wasn't for the weekend I would be all over it , now you never know because it's monday soon..

also new month, could be trend change or continuation, what's up with brent also will take a heavy toll on CAD.

Bears are not done yet.

Your view is A/U up E/U down G/U down and U/C Down?

Even if they aren't, I think we'll see it climb towards 1.3120 first.

my view:

support mas becomed resistance, now down we go

Moving the stop to 13050, not sure this thing wants to take out 130 again.

Usd/cad may rise to 1.3650 while brent oil drops to 30

UCAD sell now tp 1.3000

My view on USDCAD


5th April - USDCAD - Long

I have been trying to pinpoint USDCAD long for some time now. It kept printing lower.
Looking at daily charts, USDCAD is sitting at a major support. The level marked at the chart below was pretty responsive in the past. Traders could use this opportunity to pile in orders around this level.
I will be looking for long setup with target around 1.3750. This is 50% retrecement of the recent down move.
The long setup will depend on the price printing higher high first.
Looking at smaller time frame:
I want USDCAD to break a descending trend line and establish a higher high at above 1.3250. I will wait for the price to pull back towards support - former resistance at around 1.31.


This should be a good long entry.
Date: 04/05/2016
Pair: USDCAD
Price: 1.3100
Trade: Buy Limit
Lot Size: 0.03
Stop Loss in Pips: 150
Take profit in pips: 600
Risk of Equity: 3%

My Trading Checklist

ARE THERE MAJOR RISK EVENTS TODAY/THIS WEEK: No
Is the market risk off or on? SP500, DAX, NIKKEI. Are the down or up: Not clear to me
Is this trade with the trend?: Reversal
Did I see it yesterday?: Yes
Is this a pullback measured by Fibs?: Yes
Am I buying support?: Yes
Am I selling resistance?: N/A
Is this entered during London's session?: Not sure. Its a pending order
Did the price pulled back from 200MA on 15Min?: Yes
Are stochs extreme on multi charts?: Yes
Where is the price in terms of Pivots Points?: Support

USDCAD LONG CLOSED for 48 pips

My longs are still open. Now that it's broken above 1.3120, next target should be around 1.3300, I think.

Re-enter short 1.3190, stop 40.

Bought usdcad and exit at 1.32 level already. Still i see the room for uptrend. But lets see the PA and decide.

be careful guys. there is no uptrend in USD CAD. Brent oil is about to reverse also, bullish for CAD. Finally, April very strong month for canadian dollar historically, so be careful going long, just imo not the right setup atm.

​alright i'm finally done with u. ignore

EU still the only one i chose for long setup tomorrow with target over 100 pips

don't be so uptight. If yous don't know about seasonality it's never too late to learn. Here's a quick look @ april. Seasonality is there in fx markets as well as stocks and futures. Probably it's a big revalation for you.

Where did u get this chart mate? I think you are right about seasonality but it shouldn't be a main analysis i feel. However this chart is usefull to understand past prices. Thanks for sharing it.