Lets talk USDCAD -
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thread: Lets talk USDCAD

  1. #11
    Junior Member romenlm's Avatar
    17
    1 Attachment(s) Looks like the bottom trendline has been good support to alot of Pin Bar setups. Let's hope it lasts. My concern about the current one forming, is that the 38 Fibo. It's been a good resistance.

    https://www.cliqforex.com/newbie-que...deflation.html

  2. #12
    No charts, but anybody check this one out? Shirt that is triple. 4hr and hourly. Seems just like a good short to me.

    The only thing is there's no fibo's. Don't know if you own confluence on price action independently.
    Pipmon

  3. #13
    Isn't it too much collapse? This can be chart.

    Interest Rate differencial widens while USD/CAD callapses because of oil price rally.

    For Sure we will see correction. But question is when?

  4. #14
    Is this Headshoulders? On an hourly chart.

  5. #15
    IS not it nice pin? I am frightened of BOC's statments (BOC's Dodge says he sees some demand for further US dollar depreciation; states CAD has apprecaited considerably, so this could mute the impact on USD. /CAD downside).

    What do you think?
    The weekly chart shows that USD/CAD move deccelerated and change is near.
    Oil going down gradually, oil inventory data climbed, FED maintains hawkish tone. I am only affraid dovish remarks coming from BOC or I would have gone.

    Any remarks?

    Canadas Export boosted due to oil price rally.
    I recall I researched actual exchange rate in macroeconomy. RER = 1/NEM *I1/I2
    RER - Real exchange rate
    Nem - nominal exchange rate (it is 1/nem due to USD/CAD quote)
    I1 - price index in Canada
    I2 - price index in US
    plus I've learned that Export is supported/discouraged with change of actual exchange rate rather than nominal. If we consider crude oil in Canada's basket of products and oil's share in exports we will observe that nominally strong CAD doesn't dissuade oil exports. So opinions about USD/CAD out of BOC is applicable. (Here could be achieved great macro study)

    that I am likely to look USD/CAD carafully (jointly with oil price)

    thanks

  6. #16
    IS not it fine pin? I am frightened of BOC's statments (BOC's Dodge says that he sees some need for further US dollar depreciation; says CAD has already apprecaited considerably, therefore this may mute the effect on USD. /CAD downside).

    What do you think?
    The weekly chart shows that USD/CAD move deccelerated and change is close.
    Oil moving down gradually, oil stock data climbed, FED maintains hawkish tone. I am affraid such dovish comments coming from BOC or I'd have gone long.

    Any comments?

    Canadas Export boosted because of oil price rally.
    I recall I researched actual exchange rate in macroeconomy. RER = 1/NEM *I1/I2
    RER - Actual exchange rate
    Nem - nominal exchange rate (it's 1/nem because of USD/CAD quote)
    I1 - price index in Canada
    I2 - price index in US
    plus I've heard that Export is supported/discouraged with shift of actual exchange rate rather than nominal. So if we believe just oil in Canada's basket of products and oil's share in exports we will observe that nominally CAD does not discourage oil exports. So dovish opinions about USD/CAD out of BOC is applicable. (Here could be achieved good macro research)

    I am going to look USD/CAD carafully (jointly with oil price)

    thanks
    cad drives me nuts. I play pin pubs on charts frequently but there was a fine one late night on the right off of the ema. Took it and woke up this morning to find myself up 50 pips. It turned on a dime and pulled at my stop and shot up. This pair has always been tough. anyone else. jim

  7. #17
    cad drives me nuts. I dont play pin bars on hourly charts frequently but a one was last night on the hourly right from the ema. Took it on a rest and woke up early this morning to find myself up 50 pips. Pulled at my stop and it turned on a dime and shot up. This pair has been hard. anyone else. Jim
    The one thing that I can say about this pair is that it's CRAZY..lol...

    Thanks,

    Nader

  8. #18
    The one thing I can say about this pair is that it's CRAZY..lol...

    Thanks,

    Nader
    I had been analyzing the correlation between oil and USD/CAD. The fact is evident. It's commodity currency and affected by fundamental factors.

    This will be helpful to trade correction. 1990 low 1.11.
    One thing that worries me is BOC's desire USD/CAD to move lower.

  9. #19
    USDCAD 25th october 7 am EST..

    Pin bar on the daily that has topped out right about a long term down channel and top bolinger bands.

    Also, it's shaped on top of the ascending channel on the 4H chart and barely 15 pips shy of this weekly R1 pivot.

    Maybe a good short Prospect?


  10. #20
    Well, that brief move within the station played out perfectly: 80 pips in few hours.

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