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USD/CAD

http://technical-analysis.forexlive....-down-20170307
The trader IS the holy grail.
Tarun, what's your opinion on going short? Maybe @1.3450 then take TP in a few weeks at @1.3350? Or too risky?
Quoting Xen626
Tarun, what's your opinion on going short? Maybe @1.3450 then take TP in a few weeks at @1.3350? Or too risky?
I'll advise against shorting the USD. Just wait for a pullback for a long entry.
The trader IS the holy grail.
Still no signs of potential short. We haven't even broken the lows of a daily bar, which would be the first indication of potential reversal (and not a signal to enter short in itself). IMO those already long from lower levels have no reasons to close. Just tighten SLs
Quoting ItsAtrap
Still no signs of potential short. We haven't even broken the lows of a daily bar, which would be the first indication of potential reversal (and not a signal to enter short in itself). IMO those already long from lower levels have no reasons to close. Just tighten SLs
Yes I closed a few, only because it's NFP week. Those down there, 1.3 ish. I'm keeping those for now.
Gone to a better place
Quoting taru
{quote} I'll advise against shorting the USD. Just wait for a pullback for a long entry.

I like 1.3386 for adding longs. Weak longs will be closing before NFP and so we can expect some retracement before then.
Gone to a better place
Quoting taru
{quote} I'll advise against shorting the USD. Just wait for a pullback for a long entry.
Copy that. Will add longs at around @1.3380 if nothing significant changes
At what point do we go short? 1.3500? Reversal must be coming soon
Sell a little here 1.3460
As Davit mentioned in his wonderful forum , I too am very suspicious of the numbers released this morning. USD/CAD should have been knocking on the door of 1.3500 within a few minutes. Very interesting indeed.

Regards,
"Define the risk OUT of your trade"--Mark Douglas
Quoting JunkyFX
Sell a little here 1.3460
I don't think it's a good idea to sell now, the pair is very bullish and I think it will reach at least 1.3500.
Quoting dianajs
{quote} I don't think it's a good idea to sell now, the pair is very bullish and I think it will reach at least 1.3500.
Yes, drifting upwards and could keep going. Have another sell planned for 13575. Stop above 13650, target 13220. Could be wrong we'll see.
closed a 100 pip trade today, hesitant about opening an other long position since we are approaching such a strong resistance line, but i also think the trend will push higher since the rate hike seems imminent. thoughts?
Trade like a sniper not a machine gun
Quoting Iglootrader
closed a 100 pip trade today, hesitant about opening an other long position since we are approaching such a strong resistance line, but i also think the trend will push higher since the rate hike seems imminent. thoughts?
Oil finding support at the daily 38FIB, if it breaks 49 is in the picture. Gold at critical support area as well. Commodity currency dump across the board. Rate hike imminent, but I would be a little hesitant to be getting long at this level.

I think this sustained move up is nothing more than the rate hike euphoria coupled with a sell off in commodities. There must be some big money waiting soon to get in short. Maybe one last spike to 135.20 ish then down. Anybody's guess. Personally, I'm short from here to 135.50 with stops above 136 with 132.50 as a target area. Looking to hold this for at least a month, see where we are at.

Good trading all
"Pride always comes before destruction...." -Proverbs 16:18
Quoting Expo33
{quote} Oil finding support at the daily 38FIB, if it breaks 49 is in the picture. Gold at critical support area as well. Commodity currency dump across the board. Rate hike imminent, but I would be a little hesitant to be getting long at this level. I think this sustained move up is nothing more than the rate hike euphoria coupled with a sell off in commodities. There must be some big money waiting soon to get in short. Maybe one last spike to 135.20 ish then down. Anybody's guess. Personally, I'm short from here to 135.50 with stops above 136...
Yup, Oil breaks 38FIB takes a nose dive down below 49. UCAD spikes to 135.32. Loading more shorts here
"Pride always comes before destruction...." -Proverbs 16:18
Hello everybody
Do I understand right? We are expecting the drop of USDCAD, and as he's growing for now on, we are collecting S on each smaller top? Is it safe strategy?
Quoting Expo33
{quote} Oil finding support at the daily 38FIB, if it breaks 49 is in the picture. Gold at critical support area as well. Commodity currency dump across the board. Rate hike imminent, but I would be a little hesitant to be getting long at this level. I think this sustained move up is nothing more than the rate hike euphoria coupled with a sell off in commodities. There must be some big money waiting soon to get in short. Maybe one last spike to 135.20 ish then down. Anybody's guess. Personally, I'm short from here to 135.50 with stops above 136...


My view on USD/CAD is still bearish. Since we are under 1.36
I am building short positions on every resistance and my longterm target is around 1.27-29...

cheers
USD/CAD surged to yearly highs on the back of a significant drop in oil prices. The currency pair is currently trading above the 1.35000 handle.
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Reversal coming now?
Its been a hell of a flight on this one looks pretty much like the USDJPY rally a few months back. After such a move always comes a great drop. I think it would test 1.36 at least first.
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