Usd/cad

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FXX

Experienced member
1,140 192
I have been building a short position so now it's just a case of waiting for the overreaction in oil to have a correction.
 

FXX

Experienced member
1,140 192
I'm out the cad position for a nice profit. Closed the week off with just over 5% gain on the account
 

FXX

Experienced member
1,140 192
i hate holding out, sentiment can change in a blink of en eye. small nibbles and often is the way i roll
 

Josh7

Member
74 1
I got squished. I decided to blame the algos!
 

fxstrategist

Established member
581 15
False breakout on the USDCAD

The USDCAD leaves a false breakout above the 1.3300 level and drops below that zone. The pair may now try to pullback to the 1.3200 level, but if it goes back up, above the 1.3300 level, then its next resistance could be the 1.3387 level.
 

Josh7

Member
74 1
It's getting closer to the resistance level at 1.3390. Possibly, bears will try to bring it down.
 

fxstrategist

Established member
581 15
¿Shooting star on the USD/CAD? The USD/CAD breaks above the 1.3387 level and leaves behind a false breakout on the daily chart, forming what it appears to be a shooting star pattern. The shooting star is a bearish reversal pattern and it is confirmed when the next candles is bearish. The long upper shadow that we see on a shooting star formation is indicating that the sellers have taken control of the market. If the price of the USD/CAD continues dropping, then the 1.3300 level may act as support. Below the 1.3300 level, the 1.3200 and the 55 day EMA may also act as support. On the other hand, if the pair breaks above the 1.3387 level, its next resistance could be the 1.3500 level.

 

fxstrategist

Established member
581 15
Higher lows on the USD/CAD. The USD/CAD has been making higher lows on the daily chart and it seems like the bullish pressure is accumulating around the 1.3445 level. The USD/CAD may break to the upside, but a bullish breakout can only be confirmed above the 1.3500 level. The 55 day EMA is showing us that the bullish trend is still in place, but the pair may try to pull back to the downside. Below the bullish trendline, the 55 day EMA around the 1.3231 level could act as support. Below the 55 day EMA, its next support could be the 1.3100 level followed by the 200 day EMA.

 

fxstrategist

Established member
581 15
Bullish breakout on the USD/CAD. The drop in oil has pressured the Canadian Dollar to the downside and that is why we see the USDCAD heading higher, even though the greenback has also rallied on its own merits. Yesterday we saw that the daily lows of the USDCAD were higher than the previous ones and that was a sign that the bullish pressure was accumulating around the 1.3445 level. Today the price breaks above the 1.3445 level and reaches the 1.3500 zone which could act as resistance. Above the 1.3500 level, its next resistance could be the 1.3800 level. To the downside, in case of a pullback, the most important support is at the 55 day EMA around the 1.3231 level.

 

jeffre4

Experienced member
1,161 157
NOVICE question never traded fx but if i wanted to trade the minimum on city index on eur/cad (which wanted to do before it shot up) the minimum being £1 is the quantity 1000 and a five point spread