USD vs CAD

[damian25]

This is my first post on trade2win so hi everyone!!!




The USD vs CAD curreny pair looks to be bottoming out at the moment.

I think it has reached a bottom at about 1.2000 level .

I would expect this to move 200-400 ticks before the next fornight is over.

Does anyone else think that this can go any further to the downside?

 

[G-Man]

Hi Damian25.

Welcome to the board.

I have also been keeping an eye on USD/CAD and expect it is oversold. However, 'thinking' in this business is a dangerous game, and until the pair shows some reason to go long, I would continue to sit.

The chart shows a succession of lower highs since May 18 and until this pattern is negated I would be loath to pick the bottom. Alternatively wait until any indicators you follow show a strong change in direction.

However, the COT positions have been building up short CAD/long USD. Should be worth keeping an eye on.

 

[rossored]

Maybe a p/b to around the 1980/1970 level, and print a LH? Or up and away from here? I'd say a close anywhere above @2010 would be bullish - in the short term.

 

[damian25]

Reply to other posts

After further consideration and the fact George Bush has asked for a further $50 Billion dollars or so from congress for IRAQ I think the USD vs CAD is still in the process of bottoming out and will start a new trend upwards by fri 12th or monday the 15th.

Momentum had crossed to the upside around a week ago but George Bush getting a 2nd term has obviously weakened the dollar, because of his record deficit.

Will post when I will be entering as mentioned earlier in post.

Cheers for now.

 

[raggamuffinluv]

Closed at 1.2060ish in N.A. today. Above 1.2030 is a weekly reversal (lower low and higher high) closing above last week's high. I think long USD/CAD is a good way to play the potential a short term broader USD rebound.

 

[damian25]

1 week worth of consolodation ahead for this one

I reckon that this one is going sideways for the next few days then I think a sharp upswing will commence.

AUD vs USD- Has had a good run, Is about to come down.
Momentum has reversed for this one I expect to fall some 400 pips
in 5-7 trading days.

Mon - Tue for the AUD vs USD fall to really start.

GBP vs NZD
- Has had a nice run down I reckon its down from here.

 

[damian25]

Watch this one take off next week - 300 pips upside potential.

I think this one will take of like a rocket on wed or thu.

I see 300 pips upside potential.

I will be spreadbetting this one.

 

[damian25]

I was sceptical about your comments

Closed at 1.2060ish in N.A. today. Above 1.2030 is a weekly reversal (lower low and higher high) closing above last week's high. I think long USD/CAD is a good way to play the potential a short term broader USD rebound.

I will post when I will be entering next week wed or thu on its final swing low.
I see an excellent 1-2 days trade hear on the long side.

Look at GBP vs CAD - started moving up around the start of October.
My analysis is based on Fourier analysis as well as complex momentum studies.

 

[damian25]

Get ready for a massive upswing!!

This one is going to take off soon! - I see 300 pips upside by wed at this time.

I will be monitoring this one and will enter over the next 0-12 hrs.

Looks very good!

I'm not forgetting Aussie vs The Greenback
or EURO vs KIWI.


Gamma Jammer has told me I'm being robbed by paying 60 spread for GBP vs NZD
So I will not trade that pair.

 

[ERA]

The USD vs CAD curreny pair looks to be bottoming out at the moment.

I think it has reached a bottom at about 1.2000 level .

I would expect this to move 200-400 ticks before the next fornight is over.

Does anyone else think that this can go any further to the downside?[/QUOTE]

Hi Damian,

After todays action definately, If you look at a weekly chart you can see there is nothing between here and the 1.12 level which was the major low made in March of 1991. A long time back.

The twelve days of sideways movement we saw has definately steadied the ship and taken a bit of the oversold pressure off the market, settling it up for the next move down, which we have seen today, it is easy for me to say that with hindsight, but I think there may be some more downside here and 1.12 level is not out of the question

 

[damian25]

Watch this one on TUE! = If it goes north fast I'm pleased as punch !!!

When some buyers come into the market on TUE (2day), I expect sharp price upswing (In fact when the US trading session starts . I reckon all but 200 at least to the upside - big time).

I do not think we will see these price levels for a few weeks (1.800) and then we will gradually see some appreciation over the next 4-6 months. This longer term picture can change of course, however for the short term we are up.

I will be post after the US shuts up for day after 9pm GMT.

'No boasting, Just Posting"

If you think this is going anywhere apart from up tomorrow I will take it on the chin if I prove to be massively incorrect, inaccurate and incapable of trading forex for my living.



:idea: :idea:
:arrowu: :arrowl: :arrowd: :!:

 

[Roberto]

I still wouldn't trade it as its too thin to be sensible.

Couldn't agree more. Who needs it, anyway?