next year we could see around 65cents US per CAD. further out in the future maybe less than 50cents US per CAD once the new alternative energy paradigm starts to gain traction. Nobody will require Canada's vast petroleum offerings.
low oil has really messed up cad. It's bad enough I have to guess what cad will do, now I also have to guess what cl is going to do? IDK. I try to get short usd.cad everyday and every day I get stopped out. And the thing is, that's real money for people who live on the border. And it's the same with AUD. at the moment I'm long a miniscule amount from 3201 with a stop at 3080 and a stop to buy more at 3360
you short currencies everyday and you are stopped out? Have you thought about putting entry in at the point where you normally put your stop? Or perhaps you could just put your stops wider.
my stops get wider each time I get stopped out. It's built into the system. I've thought about doing all kinds of different things, but my method is profitable if you can live through all the grief. Cad has just been a real sore spot for the last 30 or so days. I finally get a full load on and then it turns on me and I start getting stopped out all the way down.
If that happens, its going to be a buying opportunity again in real estate and businesses by those with U.S. Dollars although it will not offset other problems that Canadians will have.
self correcting? Low cad good for exporting, but low cl bad for cad, but low cad good for USD investment, which stabalizes cad? And then here we go again all over for another fun ride.
I'm shorting this pair as well. My system also seems to be profitable, but not by much. I keep adding a new piece to the short, trade it for a while until goes against me, and then I add a bit more to the long term short. The result: my short term trades which are all wins add up to slightly more than the long term loss. Net short at: 1.29993.
Go ahead and call it what it is. The Loonie. Yea commodity drive countries like Canada are going lower no question. They will probably ease along with EU in the near term. Currencies trend well. Further out is what I use when I look at currencies. It could very well trend down to .50 without a problem.