As forecasted yesterday, the Loonie goes on with its strength; parity with the Us Dollar in sight.
The target has been hit and the parity reached!
Yes, 1.00xx:13:
Almost achieved the parity target with the U.S. dollar, and the Loonie rises quite steeply. Considering that the primary trend is bullish, at this point we can start going long with stop 0.9990.
[QUOTE=“elisab;485439”]Yes, 1.00xx:13:
Almost achieved the parity target with the U.S. dollar, and the Loonie rises quite steeply. Considering that the primary trend is bullish, at this point we can start going long with stop 0.9990.
[/QUOTE]
It was 50 pips away from parity… So no it hasn’t achieved parity
Hi everyone,
Just thought I’ll share with you my view on CAD (see the chart). I’m doing a thread (http://forums.babypips.com/forextown/48484-follow-smart-money-cot-analysis.html) on the Commitments of Traders report.
If you are new to the cot report, just read through some of my earlier posts in the thread, I tried to summarize everything there is to know about it. If you still got questions afterwards, just let me know!
All the best,
Dunstan
I’m following the development of the Cot Report too. In post # 236 you can see how to use this valuable market information that provides excellent timing signals.
Is a potential bounce in the cards for USD/CAD? The pair appears to be edging closer to testing the former resistance level around 1.0020, which is in line with the 61.8% Fibonacci retracement level. Stochastic seems to be making a bullish divergence, suggesting a possible move north. Set your stops below parity if you’re going long!
Is a potential bounce in the cards for USD/CAD? The pair appears to be edging closer to testing the former resistance level around 1.0020, which is in line with the 61.8% Fibonacci retracement level. Stochastic seems to be making a bullish divergence, suggesting a possible move north. Set your stops below parity if you’re going long!
The words of Bernanke yesterday took back sales on oil. The correction is over for UsdCad exactly on the key support. Long from now on.
It’s decision time for the Loonie bulls and bears! USD/CAD is sporting a symmetrical triangle on the 1-hour chart and it looks like we’re about to see a breakout. Will the pair break to the downside or is it a bullish pennant that we’re seeing? Keep your eyes on this one!
This was a very nice piprun. I entered at 1.0114 and TP now at 1.0210.
I follow this thread for a while and learned a lot.
Thank you all!
Jensen
I expect further weakness on the Cad in the coming months, due to the fall of the price of oil.
We have now a historical low volatility and a triangle is forming. I guess, there will be soon a good opportunity to trade a breakout of this one. What o you think about the CAD on the long view?
The upper pic shows the weekly, the lower pic the daily chart:
Is the dollar rally about to resume? USD/CAD has just finished pulling back to the rising trend line on the 1-hour time frame, suggesting that the pair could head north once more. At the same time, stochastic is moving out of the overbought region, as USD/CAD could be on its way to test 1.0300 again.
Yes, the USD/CAD tested the 1,0310. Maybee we see a break of the rising trendline in the 1-hour chart. But watch out; we are still in a triangle (Daily- & weekly-chart). TP 1.0100
This is the 1H-Chart
UsdCad is facing an important resistance but the technical situation suggests the chance of an upward break in the coming weeks.
Talk about long-term trends! USD/CAD’s uptrend is still intact judging by the unbroken rising trend line on the 1-hour chart. A stop loss just below the trend line is a great idea if you think that the pair still has room to rise. But if countertrend plays are your thing, then you might want to wait for a break below the 1.0300 major psychological handle before you jump in.
UsdCad below resistance. Rising above 1.05 might have a negative impact on the oil price.