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10-30-2009, 10:26 AM
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Registered User
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Join Date: Oct 2009
Posts: 2
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Quote:
Originally Posted by Sean Hyman
anyways, glad to have you posting here with us. Welcome!
Ultimately, you'll have to see what you think is best with your money.
With that said...it appears that the USD/CAD downtrend has been broken. If so, in the coming weeks to months...the USD would gain in value vs. the CAD. If that's the case, then you'd want to delay your conversion since the dollars are strengthening and buying you more CAD as the exchange rate goes up before you make the switch.
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thanks mate  , sometimes i just wish the CAD will come back as it always was against the USD, around the 1.50 mark, but that seems sooo far from now. |
10-30-2009, 10:49 AM
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Member
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Join Date: Aug 2009
Posts: 20
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Quote:
Originally Posted by Sean Hyman
anyways, glad to have you posting here with us. Welcome!
Ultimately, you'll have to see what you think is best with your money.
With that said...it appears that the USD/CAD downtrend has been broken. If so, in the coming weeks to months...the USD would gain in value vs. the CAD. If that's the case, then you'd want to delay your conversion since the dollars are strengthening and buying you more CAD as the exchange rate goes up before you make the switch.
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Hi Sean.
When you draw that arrow, does it mean you see the CAD weakening to 115 or just higher?
Thank you. |
10-30-2009, 10:52 AM
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Member
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Join Date: Oct 2009
Posts: 6
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just a little comment
Quote:
Originally Posted by anyways
hey, ive been going through the forum for the last month, never posted...
Im not really a trader but I have a big load of USD... like in the low 6 figures and I might need the CAD as soon as Q1 2010... What would you guys do at my place? Wait or trade? My main objective was to trade everything at 2008 high of 1.30, but it doesn't seem were gonna be near this anytime soon.
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Hi,
As you wrote "I might need the CAD", I'm not sure if you're in a situation to speculate.If you know the amount you'll need and you are thight, you may need to consider convert it at some different time (not just one time). You won't have the best rate, but an average rate. It depend if you'd like to take some risk and/or have the money you "need".
Have a nice day! |
10-30-2009, 10:59 AM
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DailyFX Power Course Instructor
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Join Date: Jun 2007
Posts: 5,857
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Quote:
Originally Posted by Claude17
Hi Sean.
When you draw that arrow, does it mean you see the CAD weakening to 115 or just higher?
Thank you.
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Claude, the arrow was just for directional purposes. I think it may go up...but how far..we'll just have to see how it progresses along the way.
My initial reaction would be to think that it would go back to some formidable resistance around 1.16-1.17 area at least. But we'll see.
__________________
Come join me at the FXCM Las Vegas Expo along with the FXCM course instructors and DailyFX analysts May 3-4th: http://www.fxcmexpo.com/
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
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.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
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10-30-2009, 11:00 AM
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DailyFX Power Course Instructor
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Join Date: Jun 2007
Posts: 5,857
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Quote:
Originally Posted by sylvanio
Hi,
As you wrote "I might need the CAD", I'm not sure if you're in a situation to speculate.If you know the amount you'll need and you are thight, you may need to consider convert it at some different time (not just one time). You won't have the best rate, but an average rate. It depend if you'd like to take some risk and/or have the money you "need".
Have a nice day!
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sylvanio, good to have you posting with us.
__________________
Come join me at the FXCM Las Vegas Expo along with the FXCM course instructors and DailyFX analysts May 3-4th: http://www.fxcmexpo.com/
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
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.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
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10-30-2009, 11:09 AM
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Member
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Join Date: Apr 2008
Posts: 488
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USD/CAD Daily
Quote:
Originally Posted by straty01
What an odd forum this one is. Is there anybody out there besides me who trades the CAD, a noticeable lack of interest here.
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You're joking ... Right? |
10-30-2009, 12:55 PM
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DailyFX Power Course Instructor
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Join Date: Jun 2007
Posts: 5,857
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What straty doesn't realize is that there are a lot of serious USD/CAD traders in here.
He'll learn.
__________________
Come join me at the FXCM Las Vegas Expo along with the FXCM course instructors and DailyFX analysts May 3-4th: http://www.fxcmexpo.com/
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
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.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
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10-30-2009, 04:30 PM
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Member
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Join Date: Oct 2009
Posts: 6
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Quote:
Originally Posted by Sean Hyman
sylvanio, good to have you posting with us.
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Thank you and good vacation to you! |
10-30-2009, 04:53 PM
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Member
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Join Date: Aug 2009
Posts: 20
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Quote:
Originally Posted by Sean Hyman
Going to West Palm Beach...then on to Los Cabos, Mexico.
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Hi Sean,
Have a good vacation and thanks for all your help. |
11-01-2009, 06:59 PM
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Member
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Join Date: Apr 2008
Posts: 488
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USD/CAD Daily
Until this USD/CAD Pair posts an Outside 4H Bar to the downside with W%R confirming ... it will continue to seek the Next highest Price for the 1st Week of November ... as Prices remain above the Weekly Pivot of 1.0731. With Running Volume beginning to favor the Bulls ... there is little resistance to contain any coming advance thereafter (should sideways to Lower Action first play out) if the Bears decide to dump their Shorts en masse. The August 17th High of 1.1127 will be the Price to measure current strength or weakness from after the High posted this Tuesday Nov 3rd.
Last edited by leithtec; 11-01-2009 at 07:13 PM..
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11-02-2009, 05:40 AM
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Member
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Join Date: Dec 2008
Posts: 193
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Quote:
Originally Posted by leithtec
Until this USD/CAD Pair posts an Outside 4H Bar to the downside with W%R confirming ... it will continue to seek the Next highest Price for the 1st Week of November ... as Prices remain above the Weekly Pivot of 1.0731. With Running Volume beginning to favor the Bulls ... there is little resistance to contain any coming advance thereafter (should sideways to Lower Action first play out) if the Bears decide to dump their Shorts en masse. The August 17th High of 1.1127 will be the Price to measure current strength or weakness from after the High posted this Tuesday Nov 3rd.
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I shorted because stochastics/rsi on daily are becoming extreme and also I think the first trend line is coming in at around 1.08 which should provide some bearish bias at least in the short term. But I think I'm taking chances because cit bankruptcy may throw the market off quite a bit today. It's ok though, this isn't my first questionable gamble |
11-02-2009, 09:33 AM
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Member
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Join Date: Apr 2008
Posts: 488
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USD/CAD Daily
Quote:
Originally Posted by andruha
I shorted because stochastics/rsi on daily are becoming extreme and also I think the first trend line is coming in at around 1.08 which should provide some bearish bias at least in the short term. But I think I'm taking chances because cit bankruptcy may throw the market off quite a bit today. It's ok though, this isn't my first questionable gamble |
Looking at the Hourly ... It's looking like You've made the right move ... maybe a little early ... maybe not ... Let's see what tomorrow's High comes in at relative to this Week's Pivot of 1.0731.
Last edited by leithtec; 11-02-2009 at 09:36 AM..
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11-02-2009, 12:10 PM
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Registered User
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Join Date: Jul 2009
Posts: 4
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[quote=leithtec;373439]Looking at the Hourly ... It's looking like You've made the right move ... maybe a little early ... maybe not ... Let's see what tomorrow's High comes in at relative to this Week's Pivot of 1.0731.[/QUOTE
Im also short at 1.08293
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11-02-2009, 11:05 PM
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Registered User
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Join Date: Aug 2009
Posts: 4
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trades in CAD
(4 hour chart below) watch out for breakout about this trendline to the upside, but before it takes place, it looks like were getting bearish divergence in the MACD and ROC, which indictes a very short term top. I would look for a sell to 1.062 area & 1.058 area (use trailing stop at first level to get any profit below these levels, 1.045-1.40 is about as low as your going to get), then wait for another bullish divergence in MACD & ROC for the next leg up to break the upper trendline.
Last edited by bmwguy586; 11-02-2009 at 11:15 PM..
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11-03-2009, 02:49 AM
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Member
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Join Date: Apr 2008
Posts: 488
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USD/CAD Daily
I'm waiting to see what this USD/CAD pair will do once it gets up to the 1.0848 Price area into today (Tues Nov 3rd) if it does prior to the US Open ... as this Price area (above or below) is now the Tell.
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