USD CAD Support & Resistance lines

[Jason Rogers]

Originally Posted by cprao

Entered long based on Dailyfx recommendation at 1.0660.. Lets see waht happens.

What's the target on the trade? Now that we've broken the support, I'm looking to go short.

[cas]

Originally Posted by mov4

Thanks a lot for your help..i can see that..can u please advise me from where i can get Goldman Sachs recommendations.. either by sending me a private msg or by directing me...

You can't get Goldman Sachs recommendations unless you are a Goldman Sachs client and/or know somebody who is. These client notes are not available to the general public.

You'll be right 'til the end of next month because of the Sinopec/Addax deal.

The real Crude Oil move will start next Monday night. Once Crude Oil hit's 74.20 we're on our way to 87.00 and 100.47 after that.

The USDCAD pair will move accordingly in it's opposite direction. I reckon around 1.0222 is the bottom.

Originally Posted by mov4

Thank you again and again for provided me with the previous recommendation..

You're welcome. Follow the primus and you'll be right...

Good luck.

[cprao]

Originally Posted by Jason Rogers

What's the target on the trade? Now that we've broken the support, I'm looking to go short.

I closed this trade right after I saw the positive news on ISSM today morning at 7.00 AM PST.

[cas]

Crude Oil just now went through weekly 200 EMA from below to test 72.00

USDCAD pair is back to around 1.0680.

That's all confirmation and pointing to anticipated big moves starting next Monday night...

[Firstfx]

Originally Posted by cas

I am not allowed to post links here. I've had my knuckles smacked, already.

Goldman Sachs send notes of recommendations to clients in regards to currencies and commodities on a regular base.

As of 29th of June 2009 Goldman Sachs USDCAD pair forecast...

1.0200 until end of September 2009

1.0610 from end of September 2009 until end of January 2010

1.1050 after that until June 2010

There has been no revision to date.

When you look @your daily USDCAD chart you'll find very interesting patterns starting @5th of July 2009...one week after Goldman Sachs published it's USDCAD pair forecast.

According to Goldman Sachs Crude Oil will go to 87...the Sinopec/Addax deal suggests 100.47.

What price did the USDCAD pair show the last time Crude Oil hit the 100...?

Nice details.

TD securities is expecting par by year end. So at least the direction from here is the same.

[Jason Rogers]

And what does everyone think about Jim Flaherty's comment about a potentially stronger CAD and intervening to weaken it: "There are some steps that could be taken to dampen that"

[cas]

Originally Posted by Firstfx

Nice details.

Thx.

Originally Posted by Firstfx

TD securities is expecting par by year end. So at least the direction from here is the same.

Now that's an interesting prediction.

I checked 2008 data...par by year end would point to Crude Oil between 126.00 and 133.00.

I can't see that happening because Crude Oil price is THE de-facto barometer of inflation. It has taken that function from gold.

Also, it would have a profound effect on the YEN because of rising energy costs for Japan.

[mov4]

Thanks cas for the helpful informations, it helps a lot..what do u think about the price goes down from today 'till the next a few weeks as Goldman recommended or not....please advise..

Thanks in advance..

[cas]

Originally Posted by Jason Rogers

And what does everyone think about Jim Flaherty's comment about a potentially stronger CAD and intervening to weaken it: "There are some steps that could be taken to dampen that"

Why would the BoC intervene before a major move UP in Crude Oil...?

All what it would do is helping the japanese to get their oil imports cheaper and hurting the canadian oil industry at the same time.

I wouldn't think the BoC is interested...

[Jason Rogers]

Originally Posted by cas

All what it would do is helping the japanese to get their oil imports cheaper and hurting the canadian oil industry at the same time.

A weaker currency wCheaper imports for Japan would allow them to purchase more oil helping the Canadian economy. Same as I don't think the typical American exporter would be disappointed by the USD getting weaker because it makes their products cheaper for foreigners to import.

I have to disagree. I don't think the BOC would care that they would be helping make exports cheaper, if anything that's exactly why they would do it. If it helps the Japanese import more oil then all the better for the Canadian economy.