If it can close at the current levels or better ( which in my opinion it will ) that would be a very significant reversal bar. The risk reward is a lot better to long USD/CAD at the moment rather then shorting it.

USDCAD trend reversal?

How about that ?

USDCAD trend reversal?

Great. Looks like the canadians can not provide only a good news. Now let's wait and see if we can get a daily close above 1.0710.

USDCAD trend reversal?

Guys I've been reading your discussion and and I find it very amusing . Anyway back to USD/CAD - it's not a market I'd go short right now. Better wait and sell at any significant fib retracement or on the break of the support trendline on the ...

USDCAD trend reversal?

Lower than expected increase in Canadian employment pushed the rate higher. A move above the reported offers between 1.0690/1.0710 will open the door toward 1.0750/60.

USDCAD trend reversal?

USD/CAD 1st target @ 1.0680 reached. Let's see if the news would be enough to push the price through the resistance @ 1.0690/00

USDCAD trend reversal?

I hope you guys have your stops above 1.0690/1.0700. It looks like the greenbuck is finally taking a breath or .......

USDCAD trend reversal?

Try export instead

Downloading into excel

Keep those shorts coming but be aware of short squeeze rally first

USDCAD trend reversal?

Indeed. But I don't really look at commercial traders as they are not only big institutions and banks but hedgers as well and those guys are making money either way. They can afford the price to go against them for couple of thousands of pips as ...

USDCAD trend reversal?

It's good to see someone on the same page

USDCAD trend reversal?

If you want to talk about crowd behavior the only report I trust is COT not some data from Oanda. No disrespect to Oanda but they are a only a retail broker. The true picture for me is totally different from the one shown above which is more than ...

USDCAD trend reversal?

Usually those guys are late in the show

USDCAD trend reversal?

With all due respect to DailyFX I tend to believe the info from the CFTC official site where more then 2/3 of the traders hold USD/CAD short positions (CAD longs). Also the report cover up to May 15th so I expect with the resent down move that ...

USDCAD trend reversal?

COT report came as expected showing that speculative acc increased their CAD long positions to 82,619 which by the way is a record for this year. Also long/short ratio is above 2 meaning for every 2 CAD longs (short USD/CAD) there's only one short ...

USDCAD trend reversal?

I'm no EW expert by all means but from my understanding especially with more and more ppl going short betting one way the correction may be close. I'd to see COT report later on today, which for me is more significant, before making any conclusions.

USDCAD trend reversal?

I have a good news and a bad news. The good news is I got filled on the last bid on the cable trade and now I'm long 1 lot at average price of 1.9746. The bad news is the price stalled around current levels. It looks to me it hasn't found the stops ...

My project over the year/years....

Bellow are two yen charts I'm looking at.

My project over the year/years....

Took the first loss on the yen trade. Price broke to the the upside, invalidating my analysis but I'm still not convinced of the strenght of the move and will be looking to sell again if I have a chance. The next level of resistance is around ...

My project over the year/years....