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COZfx: USD/CAD rallies over 1% after US jobless claims repor

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COZfx: USD/CAD rallies over 1% after US jobless claims repor

Postby dwang » Fri Mar 20, 2015 3:55 am

COZforex: The US dollar rallied over 1% against its Canadian counterpart on Thursday, after data showed that US jobless claims data rise less-than-expected last week and as the greenback continued to recover from Wednesday's broad selloff.

USD/CAD hit 1.2732 during early US trade, the session high; the pair subsequently consolidated at 1.2715, jumping 1.21%. In technical analysis, COZFX strategist Nigel Boynton said, USD/CAD was likely to find support at 1.2474, Wednesday's low and resistance at 1.2835, Wednesday's high and a 6 year peak.

In a report, the US Department of Labor said the number of individuals filing for initial jobless benefits in the week ending March 14 increased by 1,000 to 91,000 from the previous week’s total of 290,000. Analysts had expected initial jobless claims to rise by 2,000 to 292,000 last week.

A separate report showed that the US current account deficit widened to $113.5 billion in the fourth quarter from $98.9 billion in the third quarter, whose figure was revised from a previously estimated deficit of $100.3 billion.

The Canadian dollar also remained under pressure after Statistics Canada reported on Wednesday that wholesale sales declined 3.1% in January, compared to expectations for a 1.0% decline.

The report came a day after official data showed that Canada's manufacturing sales dropped 1.7% in January, confounding expectations for a 1.0% decline, after a 1.6% rise the previous month.

Later in the day, the U.S. was to release data on manufacturing activity in the Philadelphia region.


(COZ forex UK)
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Re: COZfx: USD/CAD rallies over 1% after US jobless claims r

Postby Boshka » Wed Jul 29, 2015 7:54 am

The USD/CAD market formed rather good support and now it's going up. I guess there will be a pivot at about 1.3025, because the resistance is also strong enough.

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Re: COZfx: USD/CAD rallies over 1% after US jobless claims r

Postby Boshka » Mon Aug 10, 2015 8:06 am

The USD/CAD continues to test the resistant level, but without any success. Eventually it should go down, then I'll open a sell.

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Re: COZfx: USD/CAD rallies over 1% after US jobless claims r

Postby Boshka » Wed Aug 12, 2015 2:29 pm

The USD/CAD's just started an up moving. I expect in to go higher in the near future, so I'm opening a buy here.

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Re: COZfx: USD/CAD rallies over 1% after US jobless claims r

Postby Boshka » Tue Aug 18, 2015 5:47 am

The USD/CAD market is going up at the moment. I guess it will change the direction after testing the resistant level, so my strategy for today is to open a buy at 1.3107 with target at 1.3170 and SL at 1.3090.

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Re: COZfx: USD/CAD rallies over 1% after US jobless claims r

Postby Boshka » Wed Aug 19, 2015 8:03 am

The USD/CAD formed a really strong resistance. Now the pair seems to start falling, so I guess it's the perfect moment to open a sell.

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Re: COZfx: USD/CAD rallies over 1% after US jobless claims r

Postby Boshka » Tue Sep 01, 2015 12:39 pm

The USD/CAD is waving widely and now it seems to form a support. I think it's quite a good time to open a buy at this market.

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Re: COZfx: USD/CAD rallies over 1% after US jobless claims r

Postby Boshka » Thu Sep 03, 2015 3:32 am

The USD/CAD is a seriously great place for scalpers now! It's turn for selling, but I'll definitely open a short-term deal to change for buying later.
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Re: COZfx: USD/CAD rallies over 1% after US jobless claims r

Postby Boshka » Sun Sep 27, 2015 3:37 pm

The USD/CAD was acting in the upper area in the end of the week and I guess a the beginning of the next week it will be testing the resistance, which is rather strong, so I'm expecting a pivot very soon.

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Re: COZfx: USD/CAD rallies over 1% after US jobless claims r

Postby Boshka » Mon Sep 28, 2015 2:41 am

The USD/CAD has started going down already, so my strategy for today here is to open a sell right away with a target at 1.3160 and SL at 1.3340.

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