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USD/CAD

  • #11,481
  • Jun 13, 2017 3:14am Jun 13, 2017 3:14am
In nut shell the CAD is doing well today as the reserve bank hinted at a possible rate hike.

Canada has not had a rate hike in a while so the market is getting excited about this.
  • #11,482
  • Jun 13, 2017 4:12am Jun 13, 2017 4:12am
Quoting 1GoodTrade
Hi, This is my weekly USD/CAD forecast. Still looking for a new low before any meaningful retracement. {image} Regards, 1GoodTrade --------------------- Follow me on twitter: https://twitter.com/Daytrader213

Update of my USDCAD forecast. The downside bias was confirmed but volatility and speed is the hardest part to predict.
Attached Image (click to enlarge)
Click to Enlarge Name: forex36.JPG Size: 119 KB


Regards,
1GoodTrade
---------------------
Follow me on twitter: https://twitter.com/Daytrader213
  • #11,483
  • Jun 13, 2017 4:19am Jun 13, 2017 4:19am
The pair has finally broken out below the range and it's essentially in freefall. I think its closest target is at 1.3200 but this is only the beginning of the drop.
  • #11,484
  • Jun 13, 2017 8:56am Jun 13, 2017 8:56am
Quoting SenexFX
The COT report shows a record short against the CAD. In my opinion these larger traders will be reversing, sending USD/CAD down further. Technically it's setup for a large move towards 1.25, though I'm expecting a bounce back towards 1.34x before that happens.
Ok, thanks. I did not know about the record shorts. That would explain why "we may be rising" from BOC overrides "we are raising" from FOMC.
Ecclesiastes 1:9
  • #11,485
  • Jun 13, 2017 11:19am Jun 13, 2017 11:19am
Quoting newbegger
{quote} Ok, thanks. I did not know about the record shorts. That would explain why "we may be rising" from BOC overrides "we are raising" from FOMC.
Yes, all the xxx/CAD pairs are selling off. It has to do with large traders reversing their shorts on CAD. You can see on the COT reports (such as in Finviz), that positions are extreme. For USD/CAD, there is the weak dollar aspect to be factored in, but so far most of the trade has to do with CAD, not USD.
  • #11,486
  • Jun 14, 2017 4:38am Jun 14, 2017 4:38am
USD/CAD broke out below 1.3200 practically effortlessly. I think that the drop might continue all the way to 1.3100 or even 1.3000.
  • #11,487
  • Jun 14, 2017 5:50am Jun 14, 2017 5:50am
Keep in mind that there's FOMC statement and rates tonight. I think these horizontal levels / numbers in Fx aren't so important. By my reckoning we are due a bounce here before the bearish trend resumes.
  • #11,488
  • Jun 14, 2017 6:23am Jun 14, 2017 6:23am
Technically it's done enough to complete this segment, though I cannot rule out this current move up being wave iv of (i), rather than having completed (i) entirely. My preferred view overall is a bounce towards 1.33/1.34x, though that is expected upon the completion of (i).
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 106 KB
  • #11,489
  • Jun 14, 2017 7:28am Jun 14, 2017 7:28am
USD/CAD continues its bearish trend. Expecting more to the downside today.
  • #11,490
  • Jun 14, 2017 6:32pm Jun 14, 2017 6:32pm
https://twitter.com/RubenGekko/statu...70909735612418

Thoughts?
  • #11,491
  • Jun 15, 2017 2:49am Jun 15, 2017 2:49am
Formed bullish pin bar with angulation on the daily timeframe. Opening long after previous bar high breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 28 KB
  • #11,492
  • Jun 15, 2017 3:07am Jun 15, 2017 3:07am
Quoting arigoldman
USD/CAD continues its bearish trend. Expecting more to the downside today.
The pair rebounded from 1.3160 and it may retrace back to 1.3270 - 1.3280, but I too think that the trend remains bearish and this is not the end of the drop.
  • #11,493
  • Jun 15, 2017 3:34am Jun 15, 2017 3:34am
ITs a nice Dead Cat Bounce - a good moment to take a little more short, but just little
  • #11,494
  • Jun 15, 2017 5:20am Jun 15, 2017 5:20am
Quoting Alexandrovfx
ITs a nice Dead Cat Bounce - a good moment to take a little more short, but just little
Be careful..look at your 1day pin candle and your weekly and monthly channel. We didnt break the bottom of the channel.
  • #11,495
  • Jun 15, 2017 8:39am Jun 15, 2017 8:39am
Not a very hard bounce of 3290 res..gearing up to pop through that. IF it can break through..likely off to 3400 +/-
  • #11,496
  • Jun 15, 2017 4:43pm Jun 15, 2017 4:43pm
Quoting Venomousssss
Not a very hard bounce of 3290 res..gearing up to pop through that. IF it can break through..likely off to 3400 +/-
I'll change that theory to a breakthrough needing to happen around 3330..then Ill say bulls have a good shot. still long.
  • #11,497
  • Jun 16, 2017 6:31pm Jun 16, 2017 6:31pm
It seems like the pullback on the USDCAD on the daily chart has found a good resistance at the 1.3300 zone. The pair is trying to go back down to its bearish trend and it may try to visit the 1.3162 low or the 1.3100 round number level.
  • #11,498
  • Jun 17, 2017 10:57pm Jun 17, 2017 10:57pm
Quoting trademark
It seems like the pullback on the USDCAD on the daily chart has found a good resistance at the 1.3300 zone. The pair is trying to go back down to its bearish trend and it may try to visit the 1.3162 low or the 1.3100 round number level.
i am shorting USD/CAD from 1.33 and planing to hold my position till 1.29 or 1.27
Its not about the money, its about the game, the game between people.
  • #11,499
  • Jun 17, 2017 10:57pm Jun 17, 2017 10:57pm
a
Its not about the money, its about the game, the game between people.
  • #11,500
  • Jun 18, 2017 12:00am Jun 18, 2017 12:00am
Quoting ChaosFrog
Formed bullish pin bar with angulation on the daily timeframe. Opening long after previous bar high breakout. {image}
what is that mean ???
predicted will be going up or down ???
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