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Rknigh2 commented Oct 23, 2012Same. I took a gamble at .9970, expecting the hawkish talk from the BOC. TP at .9890, sell again on a multi-close below .9880. It will need some good solid consolidation to break the .9850 level again. Negative sentiment could very well blunt the ...
Bank of Canada maintains overnight rate target at 1 per cent
- Rknigh2 commented Oct 23, 2012
Not a bad spot for a crude long, $87 has some good support. But I doubt that is his reasoning, haha. USD is gaining because of the negative sentiment, simple.
Bank of Canada maintains overnight rate target at 1 per cent
- Rknigh2 commented Oct 23, 2012
"Over time, some modest withdrawal of monetary policy stimulus will likely be required, consistent with achieving the 2 per cent inflation target. The timing and degree of any such withdrawal will be weighed carefully against global and domestic ...
Is the BoC to Clip the Loonies Wings?
- Rknigh2 commented Oct 23, 2012
Well, working with some major retailers and exporters. I expect to see a bit of a positive surprise from the core sales. September has been a great month for most retailers. Exports to the US continue to increase even with the loonie at a high ...
Is the BoC to Clip the Loonies Wings?
- Rknigh2 replied Oct 18, 2012
Reaction to US jobs and maybe some correction for yesterdays "risk-on" gains? Providing some opportunities for good prices to get back in. Added another partial short at .9825 U/C.
USD/CAD
- Rknigh2 replied Oct 17, 2012
Wow, that's a serious daily bear candle. Alas, the price is still contained within the medium/short term bull channel. So if you're bias is long, this isn't a terrible spot to add to the position. image The long term bearish pennant is still ...
USDCAD trend reversal?
- Rknigh2 replied Oct 16, 2012
That's the way flag patterns should always work!
Just barely missed my TP at .9880, I'm out at .9870 now. I don't think we have enough momentum to break that tough .9880 resistance. We'll see what market open brings, placing buy orders between ...USDCAD trend reversal?
- Rknigh2 replied Oct 15, 2012
Yes the BOC outlook should be interesting. Domestically I think we'll hear some hawkish tones, North American markets are building confidence again (positive housing, job numbers, manufacturing, and now retail). But they won't be able to discount ...
USDCAD trend reversal?
- Rknigh2 replied Oct 15, 2012
Well... small position for me haha. Pretty looking bullish flag. The lower highs make me nervous, although we're still contained within the short term bull channel. image
USDCAD trend reversal?
- Rknigh2 replied Oct 15, 2012
Good US retail sales. U/C seems unaffected. Small 10 pip move so far. We're at the bottom of the short term bull channel (1h chart), so a partial long isn't a bad idea at .9770.
USDCAD trend reversal?
- Rknigh2 replied Oct 10, 2012
Well we're now bumping up against the top of the descending trendline and well within the bear channel. Also a potential bearish flag pattern has developed, which may, at the very least, signal taking some profits off the table. Having said that, ...
USD/CAD
- Rknigh2 replied Oct 8, 2012
Pretty looking head and shoulders pattern too though... Might be time for that neckline to break.
Price Action and Trading Discussion
- Rknigh2 replied Oct 6, 2012
So I have a partial position from .9760 (a little too early). But not a terrible set up either into next week... Chart: USD/CAD 4H Long or Short: Short Entry Point: .9805 (1/2 position) and .9850 (1/2 position) Stop Loss: .9890 Profit Target: .9735 ...
USD/CAD
- Rknigh2 commented Oct 5, 2012
Regarding the further top-side. I think we forget how much cash is still on the sidelines. There are a lot of managers with 5-20% cash hanging around. Not to mention if the housing market continues to improve, that gives the average american more ...
September U.S. jobs up 114,000; jobless rate 7.8%
- Rknigh2 commented Oct 5, 2012
Weak, but improving. Which is better than strong and decelerating (China?)? No? I am very much long US equities, but short USD.
September U.S. jobs up 114,000; jobless rate 7.8%
- Rknigh2 commented Oct 5, 2012
So.... Obama wins now right? 4 year unemployment low is probably a decent starting point for the next debate, haha. Short coal, long healthcare etfs!
September U.S. jobs up 114,000; jobless rate 7.8%
- Rknigh2 replied Oct 5, 2012
Previous support/resistance at .9730's looks to be holding right now (38.2 fib level also). Would like to add another short around .9760 (50.0 fib level).
USD/CAD
- Rknigh2 replied Oct 4, 2012
Take your black magic elsewhere!!! Dead threads should stay dead!
big gaps today...
- Rknigh2 commented Oct 4, 2012
Potentially. Romney has only said he would fire Bernanke. That doesn't mean his replacement wouldn't do the same thing. " If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency ...
Minutes of the Federal Open Market Committee