hope.bleecker
Long

USDCAD- Still Holding to 1.3339

FX:USDCAD   U.S. Dollar/Canadian Dollar
509 5 18
For anyone who was trading this with me earlier, I am still looking to buy up to 13339. Obviously usdcad             is in consolidation and there's a whole host of events going on with oil's potential push up into the $50 per barrel mark, which will strengthen the CAD. Since we got such a great entry on this from 125.18, I pulled a little profit off the first lots at the last highs, and we are well positioned to ride a pending breech of 128.23 into where the next potential lows will manifest- (127.37-12672. Watch for the break of the latest uptrendline. Many of you who positioned from the 1.25 area probably removed this at 1.30. If this breaks the uptrendline, watch for fast dips as it clears buyers at 1.2823 and then look for the reentry zone around the one hour .618 at 12672 or the strong area of past resistance as it becomes future support at 1.2737. Thanks!!
Trade active: Looking for the break of 1.3016 and we will let the spinnaker out on this one and look for 1.3339!
Trade active: ROCKKKK and ROLLLLLLLL!
Trade active: Hey guys, this will get a little windy here and there as oil moves up and down, but dollar is long and should push us into the target this week. I don't know that and I don't pretend to when I trade, but signs are pointing long and I am holding into the target. Thanks!!!
Trade active: You guys ready to add on?
Trade active: I've added from a 12930 averaged position. Pulled a little bit off and watching closely. This could come back a bit, but if oil breaks 49.25 will leave it on. We are getting a turn off the $50 mark. Thanks!
I have a trade from 1.2533 and closed half at 1.3160,did a lot of money on buying usdcad on this move up.I still wait for 1.34 to close my original trade
LONG USD CAD
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Hello. How can ucad goes independent of oil, as ucad and oil have very strong reverse relationship?
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The pair is also driven by the dollar. As it stands now, dollar is on its way to 120 on the fxcm dollar index. Next stop is 12060, then a possible reverse. These currency pairs work like structural members together. USD index will find past support becoming future resistance, which affects the fibs on all dollar pairs. When dollar decides to turn, it will affect euro, aud, and pound. as well as usdcad. Plus, the stronger the dollar gets the more oil it can purchase which can have an effect on stocks as well as oil. So, it's important to remember that relationship as well.
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Unbelievable...I was just saying pre minutes this one I dont agree with. Well done and well spotted..Wish I was in but that trading
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hope.bleecker JVtrading
Thanks, this could have gone either way today, but what is important to remember is that this pair is very oversold and we are trading back into the .382 on the daily. So, regardless of the fact that dollar is eventually going to sell and oil is going to do whatever it's going to do, even if it pulls back down into 12672, while oil retraces, USDCAD should still bounce up and tag that .382 up around 11339.. If price begins to break 131, it should be a quick trip.
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