I had a question of where I see resistance for potential sell or add points for the USD/CAD as the negative news from the FOMC tomorrow may see some volatility but no real trend reversal. Here is what I see.
Short term resistance at or near .9700
Next level resistance at or near .9810ish
Most significant level of resistance 1.0000
These are not guaranteed but I certainly feel that the trend, the fundamentals and the monetary policy of rate cutting will keep the downward pressure on the USD/CAD.
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Usd/Cad up against support now as we see oil possibly rolling over. Remember that a sell off in oil will jointly hurt the USD and the CAD. Why you may ask? Canada exports a lot of oil, falling oil prices will reduce the amount of oil being purchased, therefore less demand for Canadian dollars as the prices fall. Oh but wait, oil is denominated in the USD, the oil standard currency. So if less oil is being purchased or even shorted, the dollar will feel this as well. What does this mean? Who will take the bigger hit? The CAD should take the bigger hit but the pair should become more volatile if (more…)
So here is the question of the day, I would like responses in the comments, as many as you would like to place is fine, anonymous or otherwise. What would you like to see here. I am going to continue to add my trades and my analysis, but what is it that interests you as a individuals and as a group?
Are you interested in the in depth fundamental pontifications like the deciphering of the BoE? Pure technical trades? Scalp-ish trades ?( I usually won’t post too much that way but sell the USD/CAD today off the .9720 level). Longer term trades like I usually look at?(5 weeks on (more…)
It is question day here at Random Acts. I feel like I am giving out all the generic chastisements. First what do you want and now what did I tell you? So what did I tell you? I told you to sell the Usd/Cad about 4 1/2 hours ago at a price near .9720 for a scalp trade. The price is now at .9688. If you listened and followed the trade you have two choices. 
One get out near .9680 for a quick 40 pip trade or if it moves through .9670 hold on to it for a move down toward .9615-ish by sometime tonight or early morning tomorrow. It could happen quicker but it is hard to (more…)
He’s down..no he’s up… he’s down. The Usd has taken it’s lumps over the past weeks and like a tough hardened boxer…he doesn’t know when to stay down. And you thought I would say something about it being strong and never ending spirit…no just too many hits to the head to know better. So the USD/CAD has been down and up and down and up again over the past 3 days. A break and close above the .9670 mark would make me think a move back to .9710 would be very likely. Another bounce and I think we could see the break below .9620 which has acted as support at least 4 times already. (more…)
