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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3117
Forum Topic:

Commodity FX (CAD AUD NZD NOK)

Discuss Commodity FX (CAD AUD NZD NOK)
 
PippinLongStockings
Illinois, United States
Posts: 9
11 years ago
Jan 18, 2011 2:09
Anyone shorting the AUDUSD?
forextrader
vologda, Russia
Posts: 127
11 years ago
Jan 17, 2011 23:55

The Usd/CAD pair is moving within a relatively narrow range since the last two weeks, while the highlighted bearish technical pattern remains with negative pressure offered by the 50 MA . The short term trend is to the downside as far as 1.065 remains intact with targets at 0.8900.

The same is applies to the usd/chf pair the short term trend is to the downside as far as 1.0350 remains intact with targets at 0.8500
chloethebull
Canada
Posted Anonymously
11 years ago
Jan 17, 2011 19:07
any1 thinking canada will raise rates tomor?i don;t think they will.gl guys:)
catnip
Frankfurt, Germany
Posted Anonymously
11 years ago
Jan 13, 2011 13:39
usdcad long runs well could it be chartastrologers turn the chart upside down? anyway cl @9903
chloethebull
halifax, Canada
Posts: 1183
11 years ago
Jan 13, 2011 12:37
fxtrader, what do u think of audusd?i was thinkn on locking in profits on usdcad an moving back into audusd(short) as i think it will start to move up/down better than usdcad.thanks gl with ur exams:)
forextrader
vologda, Russia
Posts: 127
11 years ago
Jan 13, 2011 12:31
@Said Razz
I dont look at the fundamental reasons why Cad will gain against the USD . I just look at the chart and chart tells it is own story where it is heading.
Look at the weekly chart you will see there is not much support after 0.97.
Overall the USD/CAD Is bearish technically monthly, weekly, daily, 4 hour.
chloethebull
halifax, Canada
Posts: 1183
11 years ago
Jan 13, 2011 12:08
@rezz, i agree its only a matter of time b4 data starts to support a weaker cad.like the aussie last night had terrible job # cad should be printing similar # but some how they did not(i find data to be suspect @times but it is what it is)an i thought retail data in dec was suspect when cad had good # with cheap dollar i haven;t bought anything in canada for a long time, either we travl to the states or i buy off ebay but rarely do i shop in canada old outta date inventory for inflated prices:( ..anyways im sure usdcad will bounce higher.but i did find it funny cad finance minister sayn cad strength is were it should be an low taxes should help out manufac section ..lol..not if no1 is getting highered to work :( gl today guys:)
DaveO
UK
Posted Anonymously
11 years ago
Jan 13, 2011 11:32
From a technical perspective the usdcad is in great danger of breaking into vertical development to the downside. Its been testing the lower regions of an important HVN (horizontal volume node) from the Dec 07 to July 08 coil. A break is likely to be dramatic as I have been alerting for last 3 weeks. As Rezz says, certainly can't rely on anything and the implications would be alarming for oil prices so let's hope the break down does not happen :-)
said
mulhouse, France
Posts: 2822
11 years ago
Jan 13, 2011 8:07
@forextrader
do u mean that usdcad is uncorrelated with oil. for how long?
Rezz
Vancouver, Canada
Posts: 53
11 years ago
Jan 13, 2011 4:15
CAD looks like a dead fish, very little movement. It certainly resembles AUD/USD when it was peaking around 1.018 ish before the stops got run up to around 1.0260 and the crash afterwards. I smell the pros wanting the big dip in usd/cad for the amateurs to give up their hand again. Heard TD FX strategist talk on BNN today, he expects CAD to be in similar trading range as last year.

forextrader... i have to disagree on speculating 0.90 as a possibility for usdcad. If oil was at $200 maybe! In canada we have the luxury of having physical proximity to the US, so when CAD strengthens Canadians will slow down purchases in canada and buy from the US. It probably has a delayed effect on sales, which eventually lead to bad canadian retail numbers as chloe is also aware of. I guess my point is technicals are one thing, but you cant rely on it always. Remember you mentioning that you think AUDUSD wont see parity again for a long long time when AUDUSD was at 1.0150 ish. The last week proved otherwise for aussie.