Usd/cad

I'm waiting for a pullback to get in on short side. Don't have hopes of anything more than the 1.1330 area at bottom of the channel that we have been in since sept.

Going long from here is quite a ballsy trade. Good luck.
 
I don't use stops any more - tired of getting stop hunted. Just have lots of cushion, enter near the top/bottom of the channel, set a reasonable target and wait patiently. Currently waiting for USDJPY to drop back to 115 or so - might take a few months, but I make 60% when it does. I have enough cushion to tolerate a move to 120, will dump more money into the account if it gets close to there, then short some more on the way down.

My reading of USDJPY: it's being pushed up by the carry trade, while Bank of Japan is trying to unload its grossly excessive USD surplus and does so when the price approaches 119. Currently at 118.40. So there's a push and pull between the two, resulting in a year-long channel between 115 and 119. The Economist says the Yen is the most undervalued major currency according to trade-weighted average, predicts USDJPY will drop to 109.
 
USD/CAD Longer term is a sell to 1.1 to aug 2007
not to far from here 1.16 to 1.17

from 1.10 Long it and keep it till 2010
Heading to 1.56
 
Been a while since I have been here :) Good to see some of the old faces!

Anyone else taking a quick short position here?

Take care,

-Kastro
 
You must log in or register to reply here.
Back
Top