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Loonie ... the infamous USD/CAD
- Thread starter usdoutlaw
- Start date
Any and all Canadians ...
please tell me how serious this Quebec independence referendum is?
I did not pay too much attention to this because I thought frankly it was silly
but a lot of reports are coming out that say many people are worried over the Quebec independence referendum
I cannot think of any other factor that is killing my usdcad short (looking for 200 - 300 pip price correction to the downside)
please tell me how serious this Quebec independence referendum is?
I did not pay too much attention to this because I thought frankly it was silly
but a lot of reports are coming out that say many people are worried over the Quebec independence referendum
I cannot think of any other factor that is killing my usdcad short (looking for 200 - 300 pip price correction to the downside)
Put some in the money stops yesterday and got stopped out of 3/4 of my position
the last 1/4 of my position has stops have stops at th 20 EMA on the daily = 1.1650
my avg price short = 1.1630s
still wondering what will break this consolidation and if this is still a commodity currency (recent commodity prices do not have an affect on this currency pair recently, maybe because China does not buy commodities from Canada like it does with Australia and New Zealand?) <--- please let me know if you know anything
the last 1/4 of my position has stops have stops at th 20 EMA on the daily = 1.1650
my avg price short = 1.1630s
still wondering what will break this consolidation and if this is still a commodity currency (recent commodity prices do not have an affect on this currency pair recently, maybe because China does not buy commodities from Canada like it does with Australia and New Zealand?) <--- please let me know if you know anything
Covered the last of my usdcad shorts in the 1530s
it took a long time but I think I got the trade I wanted
The reason why I settled and am not testing the 1500s:
1- approaching daily down channel support
2- CAD GDP coming up in less than two hours
2- US PCE indicator coming up in less than two hours
The scenario of the US having inflation and the CAD experiencing inflation will probably make USDCAD an impossible trade
it took a long time but I think I got the trade I wanted
The reason why I settled and am not testing the 1500s:
1- approaching daily down channel support
2- CAD GDP coming up in less than two hours
2- US PCE indicator coming up in less than two hours
The scenario of the US having inflation and the CAD experiencing inflation will probably make USDCAD an impossible trade
Quote from kalzayani:
Heading to 1.07 area
this is a 15 month drop folks
This kind of predictions aren't better than pure gambles.
It's you who claims from time to time that
USD/CAD "has" to drop even further, right?
What's your story?
OK, I am short... but 1.07... that's a long way
even on the weekly chart.
The Gartman Letter makes the call ... short usdcad and eurcad
The letter came out at 2AM and the EURCAD lost 120 pips
Gartman loves the Canadian economy and thinks that now the PQ will not be a threat of Quebec independence, there will only be Canadian Economic strength
all spec long eurcad ... watchout
The letter came out at 2AM and the EURCAD lost 120 pips
Gartman loves the Canadian economy and thinks that now the PQ will not be a threat of Quebec independence, there will only be Canadian Economic strength
all spec long eurcad ... watchout
USDCAD bounced right off of daily channel support on the downside.
I am looking for a re-test of that support before making a play in this currency pair
reasons:
- current macro conditions suggest that the usdcad pair should have enough momentum to breach this support
- eurcad sentiment (eurcad seems extended on the upside), this may be a large influence on how usdcad pair trades
- option driven moves curerntly seem to have a large effect on how the usdcad pair trades ... will buying subside once these options are fulfilled?
my play will be to put buy orders above daily channel support (not below) with a reasonable 30 pip stop and a profit target of about 100 pip (totally arbitrary profit target at the moment until I see more evidence of upside resistance)
I am looking for a re-test of that support before making a play in this currency pair
reasons:
- current macro conditions suggest that the usdcad pair should have enough momentum to breach this support
- eurcad sentiment (eurcad seems extended on the upside), this may be a large influence on how usdcad pair trades
- option driven moves curerntly seem to have a large effect on how the usdcad pair trades ... will buying subside once these options are fulfilled?
my play will be to put buy orders above daily channel support (not below) with a reasonable 30 pip stop and a profit target of about 100 pip (totally arbitrary profit target at the moment until I see more evidence of upside resistance)