USD/CAD

daily uptrend is broken

M 15

I would say up this week on risk aversion and there is still a build in oil inventories despite the OPEC cut in production. If stocks retreat this week oil could keep going with them. Out of commodities and stocks and into the US dollar. GDP came in worse than expected Friday but USD won't take the hit on that, it will be the opposite as traders rotate into a safe haven. Poloz, he also said a rate cut is on the table for the ROC while the FED is going the opposite way in policy.

Looking like the perfect storm for an uptrend in USD/CAD to begin.

1.306-1.307 would be a good buying opportunity. Longer term targets of 1.350 can not be ruled out.

Rough ride closed out at 1.308 with money in the bank

I shorted after the pair couldn't break above 1.3170. I think next target is 1.3050 again.

Got my long in at 1.308 Rock and Roll!!

http://news.forexlive.com/!/the-unus...-down-20170130

I think I'm completely wrong in my previous post. It's not the Trump policies, not risk aversion. I just found out the FED interest rate decision is in a couple of days and of course they WON'T raise rates this time. They already did in December. Huge players are now tip toeing out the long USD trade before it dumps big time the day of the announcement. DUH! USD down this week and the next too.

Hope your trade going well....

The pair rebounded from 1.2968 once it reached that level. For now it's retracing back toward 1.3065.

i see further cad strength vs usd for medium term.

I agree. USD/CAD continues being very bearish. I think that if it breaks out below 1.2968 next target will be at 1.2900.

have small long on 1.3010, Target open and SL 50 pips
Have a nice weekend

Tough to get on the waves of the pair lately.

USD/CAD rebounded from 1.3000 after forming a pair of doji bars on the daily time frame above that supprt. I think the closest target is at 1.3170.

The USDCAD breaks above the 1.3100 level after bouncing to the upside from the 1.3000 level. The rally may continue and take the pair to the 1.3200 level where we can find the 200 day EMA. The 1.3000 level continues being a very good support for the pair.

The pair reached 1.3170 and even briefly broke above it. I think the move to the upside will continue and next target is at 1.3240.

Any thoughts??? The way I see it, it could go either way.