Usd/cad

[Kastro_316]

Anyone going long soon? Ivan?

-Kastro

 

[late apex]

Long from 1.1463 on Friday. Current 1.1480, first TP 1.1575.

 

[Ivanovich]

Quote from Kastro_316:

Anyone going long soon? Ivan?

-Kastro

I'm eyeing it, but not until the 1.13/1.21 dnt expires this afternoon.

The .1440 support is key. I might buy in down there.

 

[ForexPro]

On what basis have you gone long - oversold bounce???

 

[late apex]

Quote from YeahIknow:

On what basis have you gone long - oversold bounce???

Well, I use a quant / statistical strategy, with TA and fundamentals in a supporting role, as a filter. To comment on the TA aspects here, we had a strong double bottom at 1.1438, across many time frames; nice, hard rejection at that level; sharp Bollinger Band penetration on the daily, which, worth noting, rarely lasts for CAD; and stochastic bottoming out and even diverging, depending on the time frame.

It might fall below 1.1375 before a meaningful bounce. In that case, my strategy would call for adding to the long, as we get closer to the low 1.1300s. No hurry, on CAD, as long-time readers of this thread know...

 

[Ivanovich]

There's always the possibility of a breakout lower to the 1.12 mark - but if I'm a bettin' man, and I am (or else why would I play the FOREX market) the risk/reward is very low to short a low 1.14 level.

 

[ForexPro]

I would wait for lower levels or short at the present time. With the backdrop of high gold/oil and firm jobs - I think this is supportive of CAD and the USD/CAD should go lower, i.e. sub 1.14

 

[wwx]

Hi Ivan

Quote from Ivanovich:

I'm eyeing it, but not until the 1.13/1.21 dnt expires this afternoon.

Can you possibly tell us where you obtained the dnt expiry info?

Thanks!

 

[ForexPro]

Just gone long at 1.145. New lows today and a lack of follow through. Tight Stop at 1.1420.

 

[Lucrum]

Quote from kalzayani:

USDCAD...forget this guy for a while...will bother U more then the return