Loonie ... the infamous USD/CAD
- Thread starter usdoutlaw
- Start date
Well the fact that prices will go down should stop more new housing starts because the reward part of the risk/reward equation will obviously decrease. A housing implosion will also come in the form of less lending (i.e. less subprime risk). I think the demand will dry up because there will be all of a sudden fewer buyers (lenders will not lend so freely)
You are correct that the housing market effect will be lagged but not as lagged as may be thought. Basically I think the number of housing starts will decrease dramatically because many home builders will still be trying to sell the homes the just built.
I could be wrong, just something to think about I guess, I just can't see housing data going any higher with all this risk that has presented itself in recent weeks
Well there we go ... I got a low of 1227
Unfortunately this low was very fleeting.
Looks like the USDCAD is forming a strong hammer candlestick formation which could indicate a temporary bottom and the start of a relief rally. Remember the next daily bar is crucial in confirming this temporary bottom formation.
If this formation holds true we could see a retracement to mid 1440s by early next week.
Trigger fingers ready.
My short term idea is to wait out the asian trading period for a possible dip and buy with a target in the mid to low 1400s
lets see what happens
Unfortunately this low was very fleeting.
Looks like the USDCAD is forming a strong hammer candlestick formation which could indicate a temporary bottom and the start of a relief rally. Remember the next daily bar is crucial in confirming this temporary bottom formation.
If this formation holds true we could see a retracement to mid 1440s by early next week.
Trigger fingers ready.
My short term idea is to wait out the asian trading period for a possible dip and buy with a target in the mid to low 1400s
lets see what happens
waited a long time for this, it seems that everyone is saying that usd/cad will rise to the 1400 ish mark before another down leg on its way to a final bottom at 110 or 1.09 ish.
as a newbie trader i look to guys like yourselves for hints and tips but surely the pair cannot fall much more then 1.09, or am i wrong.
as a newbie trader i look to guys like yourselves for hints and tips but surely the pair cannot fall much more then 1.09, or am i wrong.
Quote from bannisterj:
waited a long time for this, it seems that everyone is saying that usd/cad will rise to the 1400 ish mark before another down leg on its way to a final bottom at 110 or 1.09 ish.
as a newbie trader i look to guys like yourselves for hints and tips but surely the pair cannot fall much more then 1.09, or am i wrong.
Why not bannisterj? In the early 80s USD was worth less than CAD. I remember in '89 going snowboarding at mt Baker in Washington state - they would take CAD at par. The vocabulary of "cannot" and "should" should never be used when talking about what a market may do
Best regards,
MK
Now i got the jitters mk if i think theres a chance it could go way below 1.09, but then again this is why i love this business,
thanks mate
thanks mate
Darn it, saw a drop from 1.1280 ish to 1.1256 and went long, only to see it drop another 30 pts, god this is frustrating, am gonna keep hold though as i see it coming back to at least 1250 (fingers crossed)
Looking recently back when it bottomed and then rose to the 1850 mark, i am battling with the idea that it will possibly repeat that show with a lift of some 800 pts over a few months, just something that stops me jumping off a cliffe cos the cad hit me where it hurts again today 