Loonie ... the infamous USD/CAD

Quote from quin8670:

Get heavy short USD/CAD on any rally. I think we could see it fall below 1.05.
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why? just based on momentum?

The Canadian economy cant be doing that well, can it?
 
Perhaps it is more like the US economy is doing that bad when compared against it :D

Thanks for the journal, I am enjoying it.

Best regards,
MK
 
the long-term trend is just so heavy down and this last rally from ~1.10 - ~1.18 was just a minor rally in a severe downtrend. Are you bullish on the USD/CAD - and if so you why?

see ya

q
 
Quote from quin8670:

the long-term trend is just so heavy down and this last rally from ~1.10 - ~1.18 was just a minor rally in a severe downtrend. Are you bullish on the USD/CAD - and if so you why?

see ya

q
More...

well i saw the rally from 1.10 - 1.18 as a definite break in trend ... and a sign of confidence in the US economy again

imo this canadian strength is probably due to the fact that some believe what you just said up there ... and to the fact that commodity prices are skyrocketing out of control for a longer period of time than anyone has every thought possible

Commodity prices shouldn't go that much higher in the short term, especially since the US is more into recycling material now instead of using it raw

i mean I can't believe a set of gold teeth will set me back over 20 grand in the future :D

remember thats my own opinion

I also got stopped out of this current friday relief rally ... I was long @ avg 1342 ... and got stopped @ 1330 ... I was waiting for a more than 50 pip reliefe rally this whole time (over extension is in everyway overextension)
 
Waiting for the USDCAD to move is like torture these days ...

Anyway ... another shorterm idea before Canadian and US numbers

Short USDCAD avg price 1327
stop 1340
target 1260s - 1280s

Longterm thoughts ... since the USDCAD has recently dropped 500 pips we might see a relief rally (100 - 150 pips) but I think this must be driven by some type of confirmation by US econ numbers
 
Boy has this turned into a falling knife, I thought it might find support at its 200 day moving average, huh wishfull thinking, CPI may give it a lift today.
 
Covered 1/2 USDCAD S @ 1295 & 1292

falling knife is right ....

lowered stops to 1330

looking for follow through

new target for last half @ 1250
 
where's the rally we all need to add to our short positions...

I think this move confirms that we will see much lower lows in the mid-term...

hopefully it comes on some type of economic data catalyst that you said
 
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