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10-09-2009, 04:37 PM
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Quote:
Originally Posted by nesmithbrian
I'm betting that Alcoa's numbers will disappoint. In that case, USDCAD may rally strongly.
No position for now, will put on a long position tomorrow afternoon.
(For those interested, I finally closed my short from April, and have been long EURGBP for the last while).
All the best,
BN
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I guess you didn't go long yet. Maybe a good move sometime if you have the nerve, but at present it looks like trying to catch a falling knife. When are you going to go long? Do you have a buy target or will you wait for the trend to firmly reverse? (hard to determine a real trend reversal, I think, as there was a head-fake reverse fairly recently) |
10-09-2009, 10:00 PM
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Quote:
Originally Posted by aerocom
It's about time to short the cadyen. It has been fairly true on retracement corrections of 61 to 63%. It is nearing the fib 61.8 now and could go to 86.16 or more.
Here is my call from earlier.
Good Luck.
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Are you sure about that aerocon? My daily/weekly/monthly crosses show for a massive upswing. In fact the last 8 hour candle is pretty huge and enthusiastic. I would'nt dare short myself, just look for a possible POE. If your call works, I'll be keeping a sharp eye on it. |
10-09-2009, 11:51 PM
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Quote:
Originally Posted by SkiBunny
I guess you didn't go long yet. Maybe a good move sometime if you have the nerve, but at present it looks like trying to catch a falling knife. When are you going to go long? Do you have a buy target or will you wait for the trend to firmly reverse? (hard to determine a real trend reversal, I think, as there was a head-fake reverse fairly recently)
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Hmm, when I look at my CAD/USD (reverse USD/CAD) I can't see a short entry point at all for a while. As soon as she goes short, then it's time to long USD/CAD lol. Won't be for a while though. |
10-10-2009, 11:46 AM
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Canadian Jobs Report Error 10/09/09
Lies, damn lies and statistics...
As yesterday's job numbers impacted hugely on USDCAD, here's a timely and good watch that aired on the Canadian Business News Network after hours yesterday, about a flaw and misinterpretation from yesterday's StatsCan jobs report. Prof Atkins notes a methodology error and the fact that the number of discouraged workers has soared but aren't counted in the true unemployment rate, which he finds to be 12% higher than rate reported by StatsCan. He concludes by explaining how the next StatsCan jobs report will be a bleak one.
SqueezePlay : October 9, 2009 |
10-10-2009, 06:27 PM
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Join Date: Jan 2009
Posts: 301
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Quote:
Originally Posted by SkiBunny
Lies, damn lies and statistics...
As yesterday's job numbers impacted hugely on USDCAD, here's a timely and good watch that aired on the Canadian Business News Network after hours yesterday, about a flaw and misinterpretation from yesterday's StatsCan jobs report. Prof Atkins notes a methodology error and the fact that the number of discouraged workers has soared but aren't counted in the true unemployment rate, which he finds to be 12% higher than rate reported by StatsCan. He concludes by explaining how the next StatsCan jobs report will be a bleak one.
SqueezePlay : October 9, 2009 |
Next long starting soon, dead cats can bounce. Imo retest of 1.600. |
10-10-2009, 06:32 PM
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Join Date: Aug 2009
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Quote:
Originally Posted by Tigger
Next long starting soon, dead cats can bounce. Imo retest of 1.600.
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Retest 1.0600 you mean? |
10-10-2009, 06:53 PM
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Quote:
Originally Posted by Claude17
Retest 1.0600 you mean?
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Yah, typo. Still short from 1.0780 thankfully. Was away, and just caught the big slide. |
10-10-2009, 07:01 PM
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Join Date: Aug 2009
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Quote:
Originally Posted by Tigger
Yah, typo. Still short from 1.0780 thankfully. Was away, and just caught the big slide.
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Lucky...I read going to par in the very near future.. |
10-12-2009, 09:39 AM
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USD/CAD Daily
1.0308 is the 5th wave square-root Low from the Jan. 2002 High of 1.6190 ... this Price area may begin to offer some resistance as Running Volume on the Daily slowly drops in accordance on this USD/CAD Pair ... the Low of Tuesday Oct 13th will reveal more.
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10-12-2009, 09:52 AM
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DailyFX Power Course Instructor
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Keep in mind that with both U.S. and CAD banks closed today for holidays...trading in this pair could be thin and more easily moved today than other days.
The U.S. celebrates Columbus Day....CAD celebrates Thanksgiving.
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10-13-2009, 09:07 AM
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As oil strengthens, it's helping bring the USD/CAD pair down.
Oil $73.31. See if oil can break the $75 resistance. If so, that would cause more USD/CAD selling.
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Email me with your questions and I’ll introduce you to the community and point you in the right direction. I look forward to hearing from you.
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10-13-2009, 11:00 AM
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Nah, pure stop hunting imo....market's natural way of clearing out weak longs
Oil's just an excuse; although imperative nonetheless
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10-14-2009, 01:45 AM
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Well oil is actually only 2% of the Canadian economy, as discussed today on Cdn Business Network News. And Canada exports significantly more manufactured goods than it does oil. So I don't really understand the oil correlation with CAD.
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10-14-2009, 06:15 AM
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1.0260 is proving to be a stubborn barrier at the moment
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10-14-2009, 06:46 AM
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oil is actually only 2% of the Canadian economy. So, why so important for USD/CAD?
Quote:
Originally Posted by SkiBunny
Well oil is actually only 2% of the Canadian economy, as discussed today on Cdn Business Network News. And Canada exports significantly more manufactured goods than it does oil. So I don't really understand the oil correlation with CAD.
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Yes, but it represents 20% of Canadian exports to the USA.
Canada's Top Exports & Imports: Most Popular Products in Trade Between Canada & America | Suite101.com
Last edited by herrvonsteiner; 10-14-2009 at 06:49 AM..
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