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Trade USDCAD by tracking Oil price Trade USDCAD by tracking Oil price
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Old 08-20-2008, 11:34 PM
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Join Date: Jun 2008
Location: Singapore
Posts: 208
Default Trade USDCAD by tracking Oil price
Canada is a land of resources, so naturally CAD is a commodity related currency.

By buying USDCAD means you are buying USD and selling CAD. So when commodities prices rise, USDCAD tends to fall, and when commodities prices fall, USDCAD tends to rise.

You can see in the link below that oil price has been trending up and USDCAD has been trending down.

My trading system had already signal sell for USDCAD, I will be looking to short USDCAD if it rise higher.

Bear market is not over for stocks. I do not want to trade stocks now, prices will just keep going down. But forex has no bear market, I have been trading currency in this equity bear market.
Last edited by Pipcrawler; 08-21-2008 at 09:53 AM. Reason: spam/link violation
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Old 08-21-2008, 06:37 AM
VulcanClassic's Avatar
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Join Date: Dec 2007
Location: Cayman Islands
Posts: 334
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Dude,

Are you an introducing broker? You post alot of hyperlinks.
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Old 08-21-2008, 07:18 PM
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Join Date: Jul 2008
Location: Laguna Beach, Cali
Posts: 56
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Still pushing oil? Come on...
Forget gold and forget oil.

Also, if you have studied the
latest trends in USD/CAD and
the traditional so called
correlations; you'll notice
that there have been no real
correlations of late. Meaning,
while oil rose, USD/CAD fell.
Go peddle your views on some
futures forum instead.
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Old 08-22-2008, 12:13 AM
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Location: Singapore
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On 20 August I had written about trading USDCAD by tracking Oil price. At that time Oil price was trading at 116.56, USDCAD was trading at 1.0588.

Today we had seen oil price moving up higher to 121.21 and indeed USDCAD went lower to 1.0449.

See here: Forex and Binary Trading: Trade USDCAD by tracking Oil price (Part 2)
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