USD/CAD - Page 99

#**1471** (**permalink**) 07-03-2008, 12:34 AM

If the ECB deviates from expectations in that it holds rates steady or (using our imagination here) raises rates by 50bp, what will this do to the USDCAD?

alfa10 · #**1472** (**permalink**) 07-03-2008, 05:42 AM

Good question. I would suggest to look close the EUR/CAD and if the CAD holds relatively strong(meaning does not fall a lot against EUR) as a result will win ground over the green.

leithtec · #**1473** (**permalink**) 07-03-2008, 11:50 AM

The High that this Currency Pair posts this Friday July 4th may very well Signal the Trend of this Market into the end of this year. With standing buy orders remaining Strong below 1.0100 ... I am currently inclined to begin buying dips into obvious Daily Pivot Point resistance levels. Still, the volatility that accompanies Low Volume breakouts has yet to play out. Watch out for shake outs and whiplash action prior to Trend confirmation.

#**1474** (**permalink**) 07-04-2008, 01:19 AM

So we're up on this one for the day. This doesn't say much though right? I mean, the dollar owned everything in site today.

#**1475** (**permalink**) 07-07-2008, 01:40 AM

I might just sit this one out. Anyone have any clue as to what's going on here? The USDCAD is known to be squirrelly so...

alfa10 · #**1476** (**permalink**) 07-07-2008, 04:56 AM

I like the new uptrend. Lets see if the pair will trade above the resistance 1.0230-1.0240. I would predict a bullish on the USD trading at 1.0280-1.0295 for next 24-48 hours

Chris Vecchio · #**1477** (**permalink**) 07-07-2008, 07:36 AM

Quote:

Originally Posted by HeikinStoch

I might just sit this one out. Anyone have any clue as to what's going on here? The USDCAD is known to be squirrelly so...

I'm in the same boat as you. Aside for the CAD being far too volatile, the daily charts show no signs of breaking either way. Sure, my slow Stochastic says that it's in an uptrend, but I just don't see it the USDCAD pair breaking either way anytime soon. If anything, I'm expecting it to range trade for a while now, with support/resistance set at 0.9699/1.0378.

If it follows its current trend, I'd be slightly bullish if I were to trade.

leithtec · #**1478** (**permalink**) 07-07-2008, 11:21 AM

Now that this Pair has tested the opening Gap by trading back down into it (between 1.0157 and 1.0167) this Monday morning July 7th. The Market is setting up for a classic Reversal once it attempts a consequent run back up ... (which may not be all that spectacular). The battle now is between the recent (perhaps exhausted) Bulls and the hesitant remaining Bears. I still maintain that the Bears do not give up easily. This week's obligation is to the downside ... once again allowing new buyers to secure a position from here to parity. The ongoing question is will "these" buyers finally remain strong? Equilibrium still rests at 1.0146, Moving Volume is Low ... the overall Trend remains undefined therefore 30+ pip Daily scalps on a 2 minute Chart with screen Oscillators (or EMA exponential moving average line on screen) ... Bollinger Bands and Parobollic SAR to and from Pivot Points and R1/R2 ... S1/S2 would be the way to Trade this one for the Time being. Keep this week's Open in mind.

willyc · #**1479** (**permalink**) 07-08-2008, 12:28 AM

Quote:

Originally Posted by Chris Vecchio

I'm in the same boat as you. Aside for the CAD being far too volatile, the daily charts show no signs of breaking either way. Sure, my slow Stochastic says that it's in an uptrend, but I just don't see it the USDCAD pair breaking either way anytime soon. If anything, I'm expecting it to range trade for a while now, with support/resistance set at 0.9699/1.0378.

If it follows its current trend, I'd be slightly bullish if I were to trade.

I agree. My charts have turned bullish on the USD/CAD. They point to the same trading range that your's do.

alfa10 · #**1480** (**permalink**) 07-08-2008, 04:46 AM

Dont forget the strong correlation between oil and CAD. Thats probably the reason you see USD bullish on the pair. Oil dropped yesterday and we had bad news on USD , but still the green got some ground in general

John Kicklighter · #**1481** (**permalink**) 07-08-2008, 03:26 PM

There is some notable event risk on the Aussie docket (the Westpac Consumer Confidence survey and employment change report), so I'm watching the AUDUSD's relatively clear range activity.

Is there going to be a breakout or simply volatility in the broader range? For now, I'm only concerned about the employment number; so I have a small range trade on with an entry just above 0.95 and target equal to my stop.

Dominate trend says up, so a daily close above 0.9650 would lead me to take on a full size long position; but I would also consider increasing my current position to a full size long on a test of the rising trend (0.9860-85).

As a long-term dollar bull though, waiting patiently for the long-term rising trend to finally give way. Would start building a position on a confirmed move through 0.9450 and add when the rising trend and 100-day SMA (around 0.9380) were taken out.

What does everyone else think? A good trade here (range or breakout)?

leithtec · #**1482** (**permalink**) 07-09-2008, 12:43 AM

The 26/9 day Kinko cross has levelled out at 1.0164 signalling a pause (or a rest) on the side of the Bulls ... if continued buying fails to hold this Market up then a breach of 1.0164 could easily be followed by weak hands bailing out of their Long positions prior to Friday's close. A test of 1.0065 is not out of this week's range.

John Kicklighter · #**1483** (**permalink**) 07-09-2008, 11:03 AM

Quote:

Originally Posted by John Kicklighter

There is some notable event risk on the Aussie docket (the Westpac Consumer Confidence survey and employment change report), so I'm watching the AUDUSD's relatively clear range activity.

Is there going to be a breakout or simply volatility in the broader range? For now, I'm only concerned about the employment number; so I have a small range trade on with an entry just above 0.95 and target equal to my stop.

Dominate trend says up, so a daily close above 0.9650 would lead me to take on a full size long position; but I would also consider increasing my current position to a full size long on a test of the rising trend (0.9860-85).

As a long-term dollar bull though, waiting patiently for the long-term rising trend to finally give way. Would start building a position on a confirmed move through 0.9450 and add when the rising trend and 100-day SMA (around 0.9380) were taken out.

What does everyone else think? A good trade here (range or breakout)?

It got hairy there for a while, but my AUDUSD trade has worked out pretty well so far. I was entered yesterday at 0.9510 on the first lot and had to hold on for the drawdown. But, in this dip below range support, I was triggered on my second limit entry order at 0.9480.

Took profit on the first lot for 70 points. Moved the second lot's stop up to breakeven + 40. Second objective is floating up at 0.9610.

Let's see what happens.

alfa10 · #**1484** (**permalink**) 07-10-2008, 02:17 AM

I can see the pair trading at 0.9630-0.9450.It might happen some time in next 12 hours as the pair is trading on an uptrend. The indicators are supporting the uptrend.

John Rivera · #**1485** (**permalink**) 07-10-2008, 09:23 AM

The USDCAD has found support at the 50 Day SMA, with tomorrow's job report expected to print weaker we could see it try and test 1.02.