Ascending triangle appears to have broke. MACD 1h is going to finish above 0. Out of short at .9762.. for now... Where's your TP Eg? Somewhere around .9780 resistance? Or on to bigger and better levels?

USD/CAD

Yeah it's a coin flip. I have buy and sell orders on both sides of the triangles. image

USD/CAD

Interesting price right now on the USD/CAD a lot of converging patterns on multiple time frames. Short right now .9760, with a tight 10 pip SL.

USD/CAD

That was a nice little move up. Mostly from Japanese bond buying announcement? A little currency warring going on... I wish I pulled the trigger on the .9800 short... but either way, we're getting a nice shooting star forming on the daily chart ...

USDCAD trend reversal?

Or we get a nice slow continuation of this bear trend for another 8 months and test the .9400 lows (remember 2010 anyone?)... The thing with large upsides... you can afford to miss the first move (or two).

USDCAD trend reversal?

If we can break the first resistance around .9760... the major .9840 may get tested today. I'm not sure if the USD has enough fundamental pressure (short of some risk aversion) that could break that major level though.

USD/CAD

Well the usd/cad actually rode the 2500 pip rocket up during the crisis. The 800 pips down I'm talking about is the 6 months of bond buying nov 2010 to April 2011. Two major differences between then and now though... More of the move appears to be ...

USD/CAD

We are a ways away from a reversal. QE announcements are historically bearish on the USD. If the other QE programs are any clue, we generally get a solid 5-600 pip move down and a strong bearish trend right until the bond purchasing ceases. That ...

USD/CAD

Who cares? Sell low, buy lower. Set take profits just above 2011 lows.

USD/CAD

The issue with loading on the shorts... A tonne of traders have been pricing in QE. We saw the expected moderate move down (a solid 100 pips, and settling around 70 pips at .9680 - which btw, is historically a very strong R/S level). Now that the QE ...

USD/CAD

I think the stimulus speculation is well priced into the U/C. I think we'll see a form of QE simply as a show of Fed "support" (even though it fundamentally shouldn't change anything)... Likely pushing the U/C moderately lower. If you're in it for ...

USD/CAD

We are well established below the 2012 lows. Testing the .9500 is well within the picture now. I would expect some basing and slight retrace before continuing toward relatively strong .9690 resistance/support. Placing more shorts as ...

USD/CAD

You do understand how flawed you're reasoning is, correct? Just because the market appears random, does not mean it moves without reason. All I am asking, is why do you believe the market will move the way you say? The whole purpose of speculative ...

USD/CAD

While I can appreciate differing opinions, I do not follow your reasoning behind going long. Is it a technical analysis that "it HAS to go back to .99"? I'm not saying it can't retrace back to .9900, but I can't afford to ride it down to .95 ...

USD/CAD

Canadian economy has always been relatively stable. Plus now we're starting to see real recovery in the US (housing and manufacturing). The Canadian dollar will continue to gain as the US growth continues to bottom and increase (increase in resource ...

USD/CAD

It may be a bit of an indicator. Energy only makes of a small percentage of Canadian GDP though. If there is a negative correlation it is probably more to do with growth in the US creates growth in Canadian manufacturing and exports to the Canadians ...

USD/CAD

Once again my take profit is barely missed at .9905... out at .9925. Can't complain about a ~60 pip day though, and we're challenging the 52 week low!

USD/CAD

So.... definitely a third lower-high at .9910. Adding other half position before ADP. Could be the catalyst for the break below the .9850 resistance.

USD/CAD

Could be bumping up against the descending triangle again, maybe a third higher-low. Added a half position short at .9905. Nice round MACD signal also might be illustrating a lack of bullish momentum. Big news tomorrow though... I think the market ...

USD/CAD