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Forex Forum to Share, Discuss, Communicate and Trade Forex • USD CAD trading journal
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Re: USD CAD trading journal

PostPosted: Tue Nov 24, 2015 7:27 pm
by Kikizyak
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Support moves to 1.3328/23 initially, below which can see a retreat to 1.3271, with 1.3246/25 expected to hold to keep the immediate trend still higher. Strategy: Long, add at 1.3275, stop below 1.2935, for 1.3450.

Re: USD CAD trading journal

PostPosted: Thu Nov 26, 2015 2:54 pm
by Kikizyak
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USDCAD continues to correct lower near-term to what is seen as a better support area at 1.3281/48 – potential trend/price support and the rising 21-day average. We ideally look for this to hold to keep the trend directly higher to retest 1.3437/38. Extension above here can see a move on to challenge medium-term resistance at 1.3458/65 – the September peak and the 61.8% retracement of the 2002/07 fall. We would expect this to cap initially for a retracement lower.

Re: USD CAD trading journal

PostPosted: Fri Dec 18, 2015 6:15 pm
by Kikizyak
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Our preference: long positions above 1.3845 with targets @ 1.399 & 1.404 in extension.Alternative scenario: below 1.3845 look for further downside with 1.377 & 1.3725 as targets.Comment: the RSI lacks downward momentum.

Re: USD CAD trading journal

PostPosted: Mon Dec 21, 2015 5:07 pm
by Kikizyak
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A temporary top is in place at 1.4000 and intraday bias is turned neutral for consolidations. Downside of retreat should be contained above 1.3456 resistance turned support and bring rally resumption.

Re: USD CAD trading journal

PostPosted: Tue Dec 22, 2015 12:51 pm
by Kikizyak
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USDCAD has rallied back up to retest the May 2004 peak at 1.4000/04. This is expected to cap again. However, we look for an eventual break above it to then open up further strength towards 1.4080 next, followed by 1.4189. Above the latter can then aim at 1.4320, the key low from January 2000.

Re: USD CAD trading journal

PostPosted: Wed Dec 23, 2015 3:41 pm
by Kikizyak
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Our preference: long positions above 1.304 with targets @ 1.432 & 1.468 in extension. Alternative scenario: below 1.304 look for further downside with 1.28 & 1.256 as targets. Comment: the RSI is bullish and calls for further upside.

Re: USD CAD trading journal

PostPosted: Wed Jan 27, 2016 7:03 pm
by Kikizyak
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Our preference: short positions below 1.416 with targets @ 1.402 & 1.3985 in extension.Alternative scenario: above 1.416 look for further upside with 1.42 & 1.426 as targets.Comment: the RSI lacks upward momentum.

Re: USD CAD trading journal

PostPosted: Thu Feb 04, 2016 7:40 pm
by Kikizyak
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The drop already confirmed all possible s/t target; while below 1,3810, now strong resistance we favour further weakness toward 1,35 where one can start buying again this dollar.

Re: USD CAD trading journal

PostPosted: Fri Feb 05, 2016 7:31 pm
by Kikizyak
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Despite yesterday's fall to 1.3639, the subsequent rebound from there suggests a minor low has been formed there and consolidation above this level is seen with mild upside bias for correction of recent decline to 1.3850, and possibly towards 1.3900, however, break of previous support at 1.3908 is needed to signal the fall from 1.4690 has ended, bring retracement of recent decline to 1.3950 and later towards 1.4000.

Re: USD CAD trading journal

PostPosted: Sun Feb 21, 2016 6:34 pm
by Kikizyak
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USD/CAD extended the consolidation from 1.3638 last week and outlook is unchanged. Initial bias stays neutral this week first. As long as 1.3456 support holds, the larger up trend remains in favor to continue.