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USD/CAD – Poloz Did Not Ruffle the Loonie’s Wings

CAD rate cut “buy’s us time” Need time for lower oil prices to have impact BoC to wait on sidelines Higher crude temporarily supporting CAD Governor Stephen Poloz at the Bank of Canada (BoC) said nothing to upset the market balance in his speech in London this morning. The governor has been criticized by various […]

Top trade idea for March 26th, 2015 – USDCAD

Insisting on a higher usdcad as the recent move to the downside failed to take the previous lows at the end of the contracting triangle, namely the 1.2400 lows. This gives us quite a nice rr ratio as the stop for this trade is the 1.2400, but the target is quite handsome: above 1.2900, making […]

Top Trade Idea For March 24th, 2015 –USD/CAD

Not Top Trade Idea. Only Analysis USDCAD is clearly in bullish mode since 2014, but prices has turned down from latest high so it looks like that new correction is underway which is part of an uptrend. We are tracking idea of an expanded flat that can be taking place in current blue wave (4), […]

USD/CAD – Loonie Takes Flight Despite Weaker Crude

Canada Retail Sales a bust in January Oil prices not helping the loonie bear BoC’s Poloz credibility on the line later in the week OIS pricing in another BoC cut in the coming months The Canadian dollar is starting off the week on the front foot (CAD$1.2507) and this despite crude prices trading a tad […]

Commodity Dollars Rise as Yen Gains on Firming Risk Appetite

Talking Points: Commodity Dollars Aim Higher as Yen Falls Amid Firming Risk Sentiment British Pound Declines, Newswires Cite Dovish BOE Rhetoric as Catalyst See Economic News Directly on Your Charts with the DailyFX News App The Australian, Canadian and New Zealand Dollars outperformed in overnight trade as firming risk appetite fueled demand for sentiment-geared FX. […]

The Dollar Meltdown and Rebound – What Did the Fed Do?

Talking Points: EURUSD trades back under 1.0700 after seeing 1.1000 yesterday. USDCAD finds triangle support, trades back to daily 8-EMA. See the March forex seasonality report for trends in the QE-era. Yesterday produced the largest single-day rally in EURUSD since October 27, 2011, at the height of the Euro-Zone crisis. Subsequently, that also marked the […]

Top trade idea for March 19th, 2015 – AUDCAD

Bullish triangle for the audcad cross as this should be part of a zigzag. In order for a triangle to be part of a zigzag we should look for continuation after it is broken but the break should come under strict conditions. That being said, market should not dip below the 0.9650 anymore and this […]

Top trade idea for March 13th, 2015 – USD/CAD

My trade idea 2 weeks ago involved buying USDCAD on a 3rd rejection of the base of the triangle shown on the daily chart. This trade was triggered when price bounced off the triangle support at “e”. Price went on to break through the top of the triangle resistance but has so far failed to […]

USD/CAD – Loonie Bears Looking for Value on Dips

CAD rallies on soft U.S Retail Sales Dollar bulls looking to add to their long positions Market is expecting a soft Canadian jobs report USD Bulls feel confident above $1.2600 The CAD ($1.2653) is stronger this Thursday morning; extending earlier gains against the ‘mighty’ dollar after the U.S reported retail sales declining (-0.6% – third […]

Top trade idea for March 12th, 2015 – GBPCAD

The chart above is the gbpcad cross and we are talking about a bearish scenario for it. The reason for it is purely technical as market ended a five waves structure at the highs and now we should correct all the way to 1.83 area. Not only that we have a target in price, but […]

EUR/USD, EUR/GBP Trends Firm; EUR/JPY, USD/CAD Test Breakout Levels

Talking Points: Trend structure for EUR-pairs clear: watch 8-EMA and H4 MACD. USDCAD moves to February 24 swing high in symmetrical triangle. See the March forex seasonality report for trends in the QE-era. On day two of the ECB’s new QE program, the Euro has taken a spill right from the get-go of European trading. […]

USD/CAD – Loonie Bear Lost In No Man’s Land

Canadian Housing starts plummet in cold February Consumer confidence not in sync with the BoC Loonie Bulls look to Friday’s Canadian jobs report for support The CAD ($1.2590) is doing its best to gather some form of momentum this Monday despite last month’s sharp drop in Canadian housing starts. New housing starts headlines plummeted to […]

Preview for NFPs and Trade Setups in USD-pairs

Talking Points: EURUSD momentum firmly lower, in ‘sell the rally’ mode. USDCAD breakout requires patience – in either direction. See the DailyFX Economic Calendar for Friday, March 6, 2015. The recent swell of volatility will reach its stunning conclusion for the week today at 08:30 EST/12:30 GMT, when arguably the most important data release for […]

USD/CAD – BoC Expected to Hold and Be Dovish

India’s RBI implements a surprise cut BoC expected to be dovish EUR sits atop of January lows Eurozone sales data prevents EUR freefall So far this year the easing programs of the world’s biggest central banks are pushing the smaller national banks to new policy extremes. Nearly every other week investors are left to figure […]

Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts

Talking Points: Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts Euro: Is There More Easing from a Well-Priced ECB Stimulus Program? Australian Dollar Refuses to Break 0.79 Despite RBA Hold, Data, China Improvement Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts Event risk […]

USD/CAD – RBA Decision has the Loonie Bear Concerned

RBA keeps rates on hold Abe’s Aide guides Yen higher Will CAD’s GDP influence BoC Poloz? Market to focus on NFP Capital markets are finally on the move albeit slowly. Record low bond yields, record high global equities indices, and strained forex ranges are beginning to provide more trading opportunities in these first few days […]

Too Early to Call a Bottom in EUR-crosses Despite CPI Data

Talking Points: EURUSD trades back above 1.1200 after Feb EZ CPI beats. Technical structures of EURGBP, EURJPY remain bearish. See the DailyFX Economic Calendar for Monday, March 2, 2015. Better than expected headline inflation data from the Euro-Zone in February comes as a welcomed development for the economically-beleaguered region, although it does not come as […]

Top Trade Idea For February 27th, 2015 – USD/CAD

Tuesday’s trend peak in Dollar: CAD confirmed the resistance line of a descending triangle formation. This looks to me like a situation that might provide a trade setup in either direction. The bullish scenario comes out of the Elliot wave playbook. The last major swing higher has the potential to be an impulsive 3rd wave […]

Pound May Rise as US Dollar Falls on Bank of England, Fed Testimony

Talking Points: British Pound May Rise as BOE Testimony Fuels Rate Hike Speculation US Dollar Disproportionately Vulnerable to Losses on Yellen Comments RBNZ Survey Puts Inflation Outlook at 15-Year Low, Sinks Kiwi Dollar Bank of England monetary policy expectations will be in focus in European trading hours as Governor Mark Carney, Deputy Governor Ben Broadbent […]

Top Trade Idea For February 24th, 2015 – USD/CAD

USDCAD has turned down three weeks back, when pair accomplished a sharp five wave move within an extended red wave 3). If that is the case then traders must be aware of more upside once a corrective wave 4) is complete. Usually wave 4) will retrace for 38.2% compared to wave 3), which in our […]

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