What is going on with usd cad it was very bullish the past few months as well as weeker loonie
All of a sudden tables of turns the usd is extremely low Jannet yallen dident have anything positive to say a lot of reports are come out negative / they are suppose to be tapering soon , as for gold where next rissitance I’m thinking gold could breaks the 1300 mark maybe to 1321 befor decline back down to 1280/1270 level
Dear LibertySilver,
looking at the following different time-frames of the same chart for the USD/CAD, you will see that, from a technical perspective, you could read this pair’s bias as either bullish or bearish; looking at the moving averages (yellow=50-period; orange=100-period ; red=200-period), you can see that:
2-hour chart is bearish:
6-hour chart is bullish:
1-day chart is bullish:
1-week chart is bullish:
1-month chart is bearish:
Liberty, these guys say it better than I can, deflation or even the possibility can cause the jitters - see the Euro today for example.
Flaherty and Bullard’s comments show the deflation conundrum | ForexLive
Your 1month chart appears to show a sideways movement on a C wave correction it also shows a upward pointing diagonal triangle. I still think it is Bullish It could be a 1st wave developing. Corrections are tough to trade better off waiting for clear 1st wave and buy or sell on retrace.
Usdcad on it’s way back up it seems like
Yes, made some money on it on Friday!
I’m breaking even more or less right now I cough the usd at a high point and had to closed my original position or els i would of been stopped out , and took abit of a hit , but right now I’m breaking even long term target I have for usd cad is 1.1330
Hi LibertySilver, so you are going long, you were saying, but I wondered if the long would be safe, given that we are at the 50% Fibonacci retracement level of the 2009 high to 2011 low… See my screenshot below:
It seems that the level has held, going into the end of the last trading week (thanks to good Canadian data on Friday)… I am actually short this pair, also because the rate differential (Fed at 0.25% versus BoC at 1%) makes a sell USD/CAD more rewarding in the longer term. However, with the Fed’s hike projections for 2015 and improving unemployment figures, the USD train could gather momentum to the upside, and on the monthly chart the trend is certainly going that way. This has not been a particularly volatile pair, so a continuation to the upside could be a ‘safe bet’, in the sense of a fairly stable investment: with Canada and the USA being major goods-trading partners, the health of their respective economies is tied together.
I think this week will see usdcad get back to the 1.1300 area befor retracejng back down I’m long near the top @1.1259 & also long @1.12029 Also there is a few reports wensday and Thursday that may affect the dollar
It seems like it was not the safest trade but , I’m still holding this trade I’m expecting usdcad still to take out that 1.1130 area
Where you short near the top ?
Hello libertysilver, I cannot access my trading station (closed for the weekend) but my USD/CAD short is doing well, although I did not catch much of the incredible bear move from this pair… A sparkling week ahead, with NFPs and other high-impact event risk that could light the fire of risk trends…
Any insight on gbpusd long term trend is bullish especially there has been some strong economic data out latly , but in thinking it could pull back to 1.6400-1.65300 next week
I’m short this pair here’s a picture of the chart from my phone
I am short the Cable (GBP/USD) too, as it is range-bound on an historic band from 1.69 down to 1.39, so the potential is much greater to the downside, from its current price, given that this pair is over-valued…
[QUOTE=“PipMeHappy;616310”]I am short the Cable (GBP/USD) too, as it is range-bound on an historic band from 1.69 down to 1.39, so the potential is much greater to the downside, from its current price, given that this pair is over-valued…[/QUOTE]
What area did you enter ? I think where both on the same page here though
Cannot remember; will need charts for that.
[QUOTE=“PipMeHappy;616346”]Cannot remember; will need charts for that.[/QUOTE]
What broker did you use again if I may ask and how come you cant assess charts on weekends that kinda sucks 
I can access charts 24/7
Hello Libertysilver, here is my Cable trade set-up:
I entered near the support level, not so much for a break in the immediate term but as a long term one, whether the pair explores the heights of 1.69 first or gives up its run with congestion and, finally, a bearish tumble… The ATR shows one of the pair’s lowest volatility values in a long time (a level like this has not been seen since 2013, if I recall correctly), and the possible congestion at the top of this bull run may be, therefore, a preamble to a breakout… However, for longer term trends and their reversal, we need the kind of momentum that generates follow-through: it is not just about the break-out…
Yeah nice so your sayying it has room to test the highs abit , before A correction is due , I may close my current trade and look for a better entry in case it dose decide to break to the up side , I think there’s a few Gbp reports Thursday and Friday that may have a high impact on the pair , as well as if we see some positive usd economic data also could effect the pair as well hopfully bring it to the down side
I like your thinking…
