USD/CAD at the Crossroads

[MDunleavy]

Daily: The USD/CAD continues to climb in this recent environment of risk aversion and news of China's tightening of regulations which subdued any strength in commodities and thus commodity currencies such as the CAD, AUD, and NZD.

The daily time-frame shows the market struggling to reach the previous top at 1.075. The 1.07 is holding as resistance so far in three attemps this week.

The market may be starting a bullish run in the USD/CAD, but a significant correction would help with timing and could further confirm the bullish mode.

Weekly: The weekly time-frame shows that the 1.10-1.11 area is an important resistance. So if the markey breaks the 1.075 area, this may be the next resistance.

This is also an important area as it may coincide with the 200 and 50 MAs in the Weekly time-frame. We will see then if the current rally is a major correction, or whether a long-term rally is starting to take off.[Written by CMS Forex]

"P&F USDCAD1440 Box Size 225X3 or(5.37%) CLOSE
Data 1.5972 - 0.9161 ~ 92 Month ~ 2810 Day
Database 2000 records 1.0703 (Last Close)
2002-05-21 00~00
2010-01-29 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

1.5975|~225||________________________________________________|-0.02%|74.38%
1.5750|~45O||x_______________________________________________|1.39%|71.92%
1.5525|~675||x_o_____________________________________________|2.8%|69.47%
1.5300|~9OO||x_o_____________________________________________|4.21%|67.01%
1.5075|~1125|__o_____________________________________________|5.62%|64.56%
1.4850|~135O|__o_____________________________________________|7.02%|62.1%
1.4625|~1575|__o_____________________________________________|8.43%|59.64%
1.4400|~18OO|__o_____________________________________________|9.84%|57.19%
1.4175|~2O25|__o_____________________________________________|11.25%|54.73%
1.3950|~225O|__o_x___x_______________________________________|12.66%|52.28%
1.3725|~2475|__o_x_o_x_o_____________________________________|14.07%|49.82%
1.3500|~27OO|__o_x_o_x_o_____________________________________|15.48%|47.36%
1.3275|~2925|__o___o_x_o_____________________________________|16.89%|44.91%
1.3050|~315O|______o_x_o_____________________________________|18.29%|42.45%
1.2825|~3375|______o_x_o_____________x___x_______x___________|19.7%|40%
1.2600|~36OO|______o___o_x___________x_o_x_o_x___x_o_________|21.11%|37.54%
1.2375|~3825|__________o_x_o_________x_o_x_o_x_o_x_o_________|22.52%|35.08%
1.2150|~4O5O|__________o_x_o_________x_o_x_o_x_o_x_o_________|23.93%|32.63%
1.1925|~4275|__________o_x_o_________x_o_x_o_x_o___o_________|25.34%|30.17%
1.1700|~45OO|__________o___o_x_______x_o_x_o_______o_________|26.75%|27.72%
1.1475|~4725|______________o_x_o_____x_o___________o_x_______|28.16%|25.26%
1.1250|~495O|______________o_x_o_____x_____________o_x_o_____|29.56%|22.8%
1.1025|~5175|______________o_x_o_____x_____________o_x_o_____|30.97%|20.35%
1.0800|~54OO|==============o===o=====x=============o===o=x===|32.38%|17.89%
1.0575|~5625|__________________o_____x_________________o_x_o_|33.79%|15.43%
1.0350|~585O|__________________o_x___x_________________o_x_o_|35.2%|12.98%
1.0125|~6O75|==================o=x=o=x=================o===o=|36.61%|10.52%
0.9900|~63OO|__________________o_x_o_x_______________________|38.02%|8.07%
0.9675|~6525|__________________o_x_o_________________________|39.43%|5.61%
0.9450|~675O|__________________o_x___________________________|40.83%|3.15%
0.9225|~6975|__________________o_x___________________________|42.24%|0.7%
0.9000|~72OO|__________________o_____________________________|43.65%|-1.76%
Column|||||||3_113_6_6_104_8_4_126_3_146_6_5_4_3_4_9_3_6_3_3_|
Count



BJF-Trading-Group_Excel_Chart

 

[anoone]

err..er...den tak reti ler tgk chart tuh..er...chart ke??

 

[ryusuke]

Daily: The USD/CAD continues to climb in this recent environment of risk aversion and news of China's tightening of regulations which subdued any strength in commodities and thus commodity currencies such as the CAD, AUD, and NZD.

can u explain how to read the graph and make order..~X(

 

[SkillTrader]

+1 I'm also not understand it))

 

[MDunleavy]

The main support 1.0410 stood strong against continuous attempts from the pair to bearishly reverse, where it rebounded and completed forming the bullish technical pattern that comes inline with the bullish pattern, shown yesterday, where the pair achieved more bullish movement. We expect an overall bullish direction over an intraday direction, which will start with the breach of the mentioned neckline to head towards main targets that start 1.0565 then 1.0650. It is vital that 1.0410 areas remain intact, which are vital factors in achieving the awaited bullish direction.
The trading range for today is among the key support at 1.0350 and the key resistance at 1.0650.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.
[Written by ecPulse.com]

"P&F USDCAD1440 Box Size 225X3 or(5.38%) HI/LO
Data 1.6054 - 0.9058 ~ 94 Month ~ 2856 Day
Database 2038 records 1.0391 (Last Close)
2002-04-26 00~00
2010-02-19 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

1.6200|~225||________________________________________|-0.91%|78.85%
1.5975|~45O||x_______________________________________|0.49%|76.36%
1.5750|~675||x_o_____________________________________|1.89%|73.88%
1.5525|~9OO||x_o_____________________________________|3.3%|71.4%
1.5300|~1125|x_o_____________________________________|4.7%|68.91%
1.5075|~135O|__o_____________________________________|6.1%|66.43%
1.4850|~1575|__o_____________________________________|7.5%|63.94%
1.4625|~18OO|__o_____________________________________|8.9%|61.46%
1.4400|~2O25|__o_____________________________________|10.3%|58.98%
1.4175|~225O|__o_x___________________________________|11.7%|56.49%
1.3950|~2475|__o_x_o_x_______________________________|13.11%|54.01%
1.3725|~27OO|__o_x_o_x_o_____________________________|14.51%|51.52%
1.3500|~2925|__o___o_x_o_____________________________|15.91%|49.04%
1.3275|~315O|______o_x_o_____________________________|17.31%|46.56%
1.3050|~3375|______o_x_o_____________________x_______|18.71%|44.07%
1.2825|~36OO|______o___o_________x___x___x___x_o_____|20.11%|41.59%
1.2600|~3825|__________o_x_______x_o_x_o_x_o_x_o_____|21.51%|39.1%
1.2375|~4O5O|__________o_x_o_____x_o_x_o_x_o_x_o_____|22.92%|36.62%
1.2150|~4275|__________o_x_o_____x_o_x_o___o_x_o_____|24.32%|34.14%
1.1925|~45OO|__________o___o_____x_o_x_____o___o_____|25.72%|31.65%
1.1700|~4725|______________o_x___x_o_x_________o_x___|27.12%|29.17%
1.1475|~495O|______________o_x_o_x_o___________o_x_o_|28.52%|26.68%
1.1250|~5175|______________o_x_o_x_____________o_x_o_|29.92%|24.2%
1.1025|~54OO|______________o___o_x_____________o_x_o_|31.33%|21.72%
1.0800|~5625|__________________o_x_____________o___o_|32.73%|19.23%
1.0575|~585O|__________________o_x_________________o_|34.13%|16.75%
1.0350|~6O75|__________________o_x_________________o_|35.53%|14.26%
1.0125|~63OO|__________________o_x___________________|36.93%|11.78%
0.9900|~6525|__________________o_x___________________|38.33%|9.3%
0.9675|~675O|__________________o_x___________________|39.73%|6.81%
0.9450|~6975|__________________o_x___________________|41.14%|4.33%
0.9225|~72OO|__________________o_____________________|42.54%|1.84%
0.9000|~7425|________________________________________|43.94%|-0.64%
Column|~765O|4_1136_5_9_3_7_3_1116_6_6_3_3_4_5_104_6_|
Count



BJF-Trading-Group_Excel_Chart

 

[MDunleavy]

The underlying MT direction is bearish while the daily bias is bearish. Therefore the main risk is lower. Ensure that key resistances levels hold. Note key support levels that would suggest continuation of the bearish move. Consider confirming this with a bearish set up pattern in price or important that you consider either bullish or bearish set up patterns in indicators or lower time frame charts to support S&R breaks.

"P&F USDCAD15 Box Size 10X4 or(0.39%) HI/LO
Data 1.0302 - 0.9977 ~ 1 Month ~ 29.05 Day
Database 2000 records 0.99813 (Last Close)
2010-03-16 08~45
2010-04-14 10~00 (GMT+01:00) Paris
BJF Trading Group chart"

1.0300|~1O|||___________X___________________|0.02%|3.24%
1.0290|~2O|||___________Xo__________________|0.12%|3.14%
1.0280|~3O|||_________X_Xo__________________|0.21%|3.04%
1.0270|~4O|||_________XoXo__________________|0.31%|2.94%
1.0260|~5O|||_________XoXo__________________|0.41%|2.84%
1.0250|~6O|||_________XoXo__________________|0.5%|2.74%
1.0240|~7O|||_____X___XoXo__________________|0.6%|2.64%
1.0230|~8O|||_____Xo__XoXo__________________|0.7%|2.54%
1.0220|~9O|||_____XoX_XoXoX_________________|0.8%|2.44%
1.0210|~1OO||_____XoXoXoXoXoX_______________|0.89%|2.34%
1.0200|~11O||_____XoXoXoXoXoXo______________|0.99%|2.24%
1.0190|~12O||_____XoXoXoXoXoXoX_____________|1.09%|2.13%
1.0180|~13O||o__X_XoXoXoXo_oXoXo____________|1.18%|2.03%
1.0170|~14O||o__XoXo_oXo___oXoXo____________|1.28%|1.93%
1.0160|~15O||o__XoX__o_____o_oXo____________|1.38%|1.83%
1.0150|~16O||o__XoX__________oX4____________|1.48%|1.73%
1.0140|~17O||o__XoX__________oXo____________|1.57%|1.63%
1.0130|~18O||oX_XoX__________o_o____________|1.67%|1.53%
1.0120|~19O||oXoXoX____________oX___________|1.77%|1.43%
1.0110|~2OO||oXoXoX____________oXo__________|1.86%|1.33%
1.0100|~21O||oXoXoX____________oXoX_________|1.96%|1.23%
1.0090|~22O||oXo_oX____________oXoXo________|2.06%|1.13%
1.0080|~23O||oX__oX____________oXoXoX___X___|2.15%|1.03%
1.0070|~24O||o___o_____________o_oXoXoX_Xo__|2.25%|0.93%
1.0060|~25O||____________________oXoXoXoXoX_|2.35%|0.83%
1.0050|~26O||____________________oXoXoXoXoXo|2.45%|0.73%
1.0040|~27O||____________________oXoXoXoXoXo|2.54%|0.63%
1.0030|~28O||____________________oXoXo_oXoXo|2.64%|0.53%
1.0020|~29O||____________________oXoX__o_oXo|2.74%|0.43%
1.0010|~3OO||____________________oXoX____o_o|2.83%|0.33%
1.0000|~31O||____________________oXo_______o|2.93%|0.23%
0.9990|~32O||____________________oX________o|3.03%|0.13%
0.9980|~33O||____________________o__________|3.13%|0.03%
0.9970|~34O||_______________________________|3.22%|-0.07%
Column|||||||1649117561111465861511185456757|
Count||||||||2___17___2132_____2_42O________|



BJF-Trading-Group_Excel_Chart

 

[MDunleavy]

Trade Idea: USD/CAD - Buy Limit at 1.044; Target: 1.084 ; Stop: 1.028.
=================================================

Since the middle of May, the USD/CAD has been trading in a bullish trend. Recently, the prices rebounded at its upper Fibonacci Fan and could recover at its Fan around 1.0645 (50.0). Now it seems that the USD could start a pull back. Important is a breakthrough of the 61.8 Fan. Also the crossing Stoch indicator through the signal line from below may indicate a further bullish trend.

"P&F USDCAD1440 Box Size 200X3 or(4.79%) HI/LO
Data 1.5995 - 0.9056 ~ 92 Month ~ 2812 Day
Database 2000 records 1.06469 (Last Close)
2002-09-13 00~00
2010-05-26 00~00 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"




BJF-Trading-Group_Excel_Chart

 

[MDunleavy]

This week, US data and the European bank stress test results stole most of the headlines. Canada has quietly seen their currency strengthen towards the lower part of its' recent range. Tuesday saw an increase of 25 basis points on their overnight rate. Canadian Retail Sales and Consumer Price Index printed below expectations, but the currency benefited from the stabilization of commodities. While the outlook for future rate hikes is dismal, the Canadian economy is significantly in a better position than the US.Written by FX Solutions.USDCAD strength can continue towards 1.02.

"P&F USDCAD30 Box Size 40X3 or(1.15%) HI/LO
Data 1.0744 - 1.0138 ~ 2 Month ~ 58.98 Day
Database 2048 records 1.03572 (Last Close)
2010-05-25 23~00
2010-07-23 22~30 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"

1.0760|~4O|||+_______________________________|-0.15%|6.14%
1.0720|~8O|||x_o_____________________________|0.22%|5.74%
1.0680|~12O||x_o_+_______________+___________|0.6%|5.35%
1.0640|~16O||__o___+_____x_______x_+_________|0.97%|4.95%
1.0600|~2OO||__o_____+___x_o_____x_o_+_______|1.34%|4.56%
1.0560|~24O||__o_x___x_+_x_o_____x_o_x_+_____|1.71%|4.16%
1.0520|~28O||__o_x_o_x_o_x_o_____x_o_x_o_+___|2.08%|3.77%
1.0480|~32O||__o_x_o_x_o_x_o_____x_o_x_o_x_+_|2.46%|3.37%
1.0440|~36O||__o___o___o_x_o_x___x_o_x_o_x_o_|2.83%|2.98%
1.0400|~4OO||__________o_x_o_x_o_x_o_x_o_x_o_|3.2%|2.58%
1.0360|~44O||__________o___o_x_o_x_o_x_o___o_|3.57%|2.19%
1.0320|~48O||______________o_x_o___o_x_____V_|3.95%|1.8%
1.0280|~52O||______________o_x_____o_______V_|4.32%|1.4%
1.0240|~56O||______________o_x___+_________V_4.69%|1.01%
1.0200|~6OO||______________o_x_+___________V_5.06%|0.61%
1.0160|~64O||______________o_+_____________V_5.44%|0.22%
1.0120|~68O||______________+_________________|5.81%|-0.18%
Column|~72O||2_8_3_3_3_5_7_1_7_3_8_9_7_5_3_3_|
Count||~76O||______________2_________________|


BJF Trading Group. Excel Chart. Full size.

 

[need_money]

thanks..nice post

 

[MDunleavy]

can u explain how to read the graph and make order..~X(

Here's the link to your file:
https://www.yousendit.com/download/ZGJmV0p6Q0NTSUR2Wmc9PQ
File expiration date: permanently November 1, 2010
Well-known book. About P&F chart

====================
I remain bullish on USD/CAD.
Trade Idea: USD/Cad - Buy (Stop) at 1.0280; Target: 1.0480 ; Stop: 1.0200.
See the details on the charts.

"P&F USDCAD10080 Box Size 250X3 or(5.94%) HI/LO
Data 1.6196 - 0.9056 ~ 246.9 Month ~ 7259 Day
Database 1038 records 1.02573 (Last Close)
1990-12-02 00~00
2010-10-17 00~00 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"

1.6250|~25O||____________+_______________________________|-0.33%|79.44%
1.6000|~5OO||________x___x_+_____________________________|1.21%|76.68%
1.5750|~75O||____x___x_o_x_o_+___________________________|2.75%|73.92%
1.5500|~1OOO|____x_o_x_o_x_o___+_________________________|4.3%|71.16%
1.5250|~125O|____x_o_x_o___o_____+_______________________|5.84%|68.4%
1.5000|~15OO|____x_o_x_____o_______+_____________________|7.38%|65.64%
1.4750|~175O|____x_o_x_____o_________+___________________|8.93%|62.88%
1.4500|~2OOO|____x_o_____+_o___________+_________________|10.47%|60.11%
1.4250|~225O|x___x_____+___o_____________+_______________|12.02%|57.35%
1.4000|~25OO|x_o_x___+_____o_x_____________+_____________|13.56%|54.59%
1.3750|~275O|x_o_x_+_______o_x_o_____________+___________|15.1%|51.83%
1.3500|~3OOO|x_o_+_________o_x_o_______________+_________|16.65%|49.07%
1.3250|~325O|x_+___________o_x_o_________________+_______|18.19%|46.31%
1.3000|~35OO|x_____________o_x_o_________x___x___x_+_____|19.73%|43.55%
1.2750|~375O|x_____________o___o_________x_o_x_o_x_o_+___|21.28%|40.79%
1.2500|~4OOO|x_________________o_x_______x_o_x_o_x_o___+_|22.82%|38.03%
1.2250|~425O|x_________________o_x_o_____x_o_x_o_x_o_____|24.36%|35.27%
1.2000|~45OO|x_________________o_x_o_____x_o_x_o___o_____|25.91%|32.51%
1.1750|~475O|x_________________o___o_x___x_o_x_____o_____|27.45%|29.75%
1.1500|~5OOO|x_____________________o_x_o_x_o_______o_____|28.99%|26.99%
1.1250|~525O|______________________o_x_o_x_________o_____|30.54%|24.23%
1.1000|~55OO|______________________o___o_x_________o_____|32.08%|21.47%
1.0750|~575O|__________________________o_x_________o_x___|33.63%|18.71%
1.0500|~6OOO|__________________________o_x_________o_x_o_|35.17%|15.95%
1.0250|~625O|==========================o=x=======+=o=x=o=x36.71%|13.18%
1.0000|~65OO|__________________________o_x_____+___o_+_o_|38.26%|10.42%
0.9750|~675O|__________________________o_x___+_____+___+_|39.8%|7.66%
0.9500|~7OOO|__________________________o_x_+_____________|41.34%|4.9%
0.9250|~725O|__________________________o_+_______________|42.89%|2.14%
0.9000|~75OO|__________________________+_________________|44.43%|-0.62%
Column|||||||1_3_9_5_6_3_3_1_5_9_3_6_3_1_1_6_6_4_4_1_3_3_|
Count||||||||2_____________3___________O_5_________2_____|

BJF Trading Group. Excel Chart. Full size.