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USD/CAD

  • #11,101
  • Mar 3, 2017 11:25am Mar 3, 2017 11:25am
USD/CAD broke above 1.3400 and I have little doubt that next week it will continue moving to the upside, apart from the occasional correction, so I decided not to close the long position for the weekend.
  • #11,102
  • Mar 3, 2017 11:30am Mar 3, 2017 11:30am
Quoting dianajs
USD/CAD broke above 1.3400 and I have little doubt that next week it will continue moving to the upside, apart from the occasional correction, so I decided not to close the long position for the weekend.
Certainly going to be interesting dianajs !

Eerily enough , SOMETHING in the FX MARKET seems to come out of nowhere. I am really wondering how the heck that Yellen could raise rates in March. I believe the Fed needs a bit more time before they make a move.

Thank you for your input,

Wishing you much success,
"Define the risk OUT of your trade"--Mark Douglas
  • #11,103
  • Mar 3, 2017 1:27pm Mar 3, 2017 1:27pm
Quoting GreenEarth
{quote} Taru , with these numbers , does this mean that very large buyers or sellers have pending or actual orders in the USD/CAD at the above levels ? I could never seem to find a site where I could get data such as this. Thank you once again. Cheers,
Correct. These are institutional orders published by forexlive.com here. An introduction can be found here and more details here. Hope you find it useful.
The trader IS the holy grail.
  • #11,104
  • Mar 3, 2017 1:52pm Mar 3, 2017 1:52pm
Taru , thanks a TON !!!
"Define the risk OUT of your trade"--Mark Douglas
  • #11,105
  • Mar 4, 2017 6:23am Mar 4, 2017 6:23am
Hey guys, was wondering if you guys expect it to keep with the bullish trend or not after what we saw on friday evening. Thanks again for your input.
  • #11,106
  • Mar 5, 2017 10:12am Mar 5, 2017 10:12am
Good move last week, i'm kinda sad i missed buying!
  • #11,107
  • Mar 5, 2017 1:21pm Mar 5, 2017 1:21pm
Quoting arigoldman
Good move last week, i'm kinda sad i missed buying!
You may get your chance if it pulls back. It painted a bearish pinbar on the daily Friday candle, oil has found support and Yellen effectively made the hike conditional to the NFP. Wait and see.
The trader IS the holy grail.
  • #11,108
  • Mar 5, 2017 1:34pm Mar 5, 2017 1:34pm
Quote
oil found support

highly unlikely. WTI looks topped out and about to sink hard here. UCAD push higher beyond 3500 soon.
Attached Image (click to enlarge)
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  • #11,109
  • Mar 5, 2017 1:50pm Mar 5, 2017 1:50pm
Quoting asgcorp
{quote} highly unlikely. WTI looks topped out and about to sink hard here. UCAD push higher beyond 3500 soon. {image}
I think so too, question is will it drop first and do we go long on the way up? I'm quite the rookie and am interested in your thoughts. TIA iv really enjoyed your work so far.
  • #11,110
  • Mar 5, 2017 1:52pm Mar 5, 2017 1:52pm
Quoting Xen626
{quote} I think so too, question is will it drop first and do we go long on the way up? I'm quite the rookie and am interested in your thoughts. TIA iv really enjoyed your work so far.
see my thread I've posted a game plan for USD CAD. Buying dips is a valid strategy this week. Since USD CAD is correlated to AUD USD you can time the entry with rejection of AUD USD @ 7650-60 region. AU down, UCAD up.
  • #11,111
  • Mar 5, 2017 1:54pm Mar 5, 2017 1:54pm
looks like ascending triangle formation
Attached Image (click to enlarge)
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  • #11,112
  • Mar 5, 2017 1:55pm Mar 5, 2017 1:55pm
buy dips in UCAD and sell rips in AUDUSD. Feds about to raise rates. Commod currencies will suffer the most - since gold and oil will sell off. UC and AU are highly correlated to gold and oil and therefore most sensitive to commod prices. Gold ain't an interest paying asset so funds will flow out of gold into bonds or equities. UC up and AU down.
  • #11,113
  • Mar 5, 2017 2:08pm Mar 5, 2017 2:08pm
if you look carefully @ D1 WTI price chart it's a bearish wolfe wave pattern setup, prices about to start sinking here.
PS: it ain't perfect but still valid.
Attached Image (click to enlarge)
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  • #11,114
  • Mar 6, 2017 11:15am Mar 6, 2017 11:15am
USD/CAD still appears bullish but there is also a RSI divergence on the H1 time frame. However, it could continue moving to the upside for the moment and the divergence could deepen.
  • #11,115
  • Edited Mar 7, 2017 7:34am Mar 6, 2017 12:52pm | Edited Mar 7, 2017 7:34am
USDCAD in the next few days may range around 1.3430 - 1.3370. Market needs some consolidation after very quick growth. But tomorrows fresh economic data from Canada can finish that range easily.
  • #11,116
  • Mar 7, 2017 5:08am Mar 7, 2017 5:08am
Quoting Explorateur
USDCAD in the next few day may range around 1.3430 - 1.3370. Market needs some consolidation after very quick growth. But tomorrows fresh economic data from Canada can finish that range easily.
I concur, it's very range-bound for the moment. I've closed all my positions and I will wait until after the news to open new ones.
  • #11,117
  • Mar 7, 2017 9:24am Mar 7, 2017 9:24am
UC to reach 1.3450? In light of recent news
  • #11,118
  • Mar 7, 2017 9:29am Mar 7, 2017 9:29am
Quoting Xen626
UC to reach 1.3450? In light of recent news
Correction 1.3500
  • #11,119
  • Mar 7, 2017 9:38am Mar 7, 2017 9:38am
Quoting Xen626
{quote} Correction 1.3500
There is possibility heading 3500, but for me reversals area betwen 3450-3460

Goodluck
Libenter homines id quod volunt credunt
  • #11,120
  • Mar 7, 2017 9:41am Mar 7, 2017 9:41am
Quoting baliprada
{quote} There is possibility heading 3500, but for me reversals area betwen 3450-3460 Goodluck
Thanks bud.
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