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USDCAD Discuss market action in the US Dollar versus the Canadian Dollar.

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  #91 (permalink)  
Old 10-21-2009, 02:10 PM
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Jason, we have seen 200 pips by now.

Either you're right with shaking out everyone overly short the USD or we will see a huge rise in the price of Oil later on and/or tomorrow.

In the last couple of days USDCAD bounced anywhere between 50 - 120 pips before Oil took another leg up and USDCAD went south again. But nothing like what we are seeing today.

My USDCAD CCI indicator is in overdrive...
How about this USD/CAD roller coaster.

Tomorrow's CAD retail sales will be important if the CAD plans to gain some momentum along with oil prices going up. I continue to be amazed by the rise in oil and equities, but going along for the ride.

What do you think, oil going to $85 next?
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  #92 (permalink)  
Old 10-21-2009, 03:25 PM
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What do you think, oil going to $85 next?
I think Oil topped @81.72 for now. Oil is overbought. To much speculative money has gone into Oil, Gold and Equities. That bubble will burst very soon IMO.
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  #93 (permalink)  
Old 10-26-2009, 02:49 PM
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USD/CAD approaching a critical level. Downtrend is stil in tact as long as we don't breach the 1.0750ish level.

BOC Gov. Carney was speaking today about interest rates Wrong to have looked for early Canada hike -Carney | Currencies | Reuters didn't help CAD either.
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  #94 (permalink)  
Old 10-26-2009, 02:58 PM
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USD/CAD approaching a critical level. Downtrend is stil in tact as long as we don't breach the 1.0750ish level.
If Oil holds 77.77 -77.61 support area USDCAD shouldn't breach that 1.0750ish level.
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Old 10-26-2009, 03:31 PM
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If Oil holds 77.77 -77.61 support area USDCAD shouldn't breach that 1.0750ish level.
I'm looking for a retest of 72-74 in oil so that doesn't look good for usd/cad
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  #96 (permalink)  
Old 10-27-2009, 04:22 PM
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If Oil holds 77.77 -77.61 support area USDCAD shouldn't breach that 1.0750ish level.
Above support area did hold.

Tomorrow is "Oil numbers day" like every Wednesday.

USDCAD will move before Oil inventory numbers get released.
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  #97 (permalink)  
Old 10-29-2009, 08:16 AM
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Last night...GMT...Saudia Arabia announced to drop NYMEX WTI Oil Futures Contracts.

Because of this FX Street has issued a FOREX Market Alert for USDCAD and AUDUSD flows.

You'll find it here...

AUD/USD, USD/CAD Flows - FT: Saudis drop WTI oil contract; Argus Sour Crude from Jan
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  #98 (permalink)  
Old 10-30-2009, 04:36 PM
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77.46 minor support in Oil is still valid. That suggests another swing. Similar to the one we saw yesterday and today. Oil staying above 80.00 is a bit over the top @present.

Canadian "120 pips GDP rocket" news shot straight through 1.08 in USDCAD pair. UC & Oil Correlation is a bit out of whack for now but I reckon coming Sunday/Monday asian session will take care of that. I don't see USDCAD's 1.0750 area staying support for that long.
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Old 11-02-2009, 05:04 PM
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Quiet on the CAD economic data front until Thursday. The markets in general seem to be highly volatile recently without much trading sense...which is probably a good time to be on the sidelines. Very erratic day to day in the stock market also.
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  #100 (permalink)  
Old 11-03-2009, 04:43 PM
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USDCAD is back to "pre 120 pips GDP rocket" S&R levels. it took 24 hours longer than I thought but UC got there eventually.

In fact it's back to the pip...1.0650.
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