Usd/cad

Ivan took my money.:eek:

But congrats

I'm glad I covered where I did. It could have been a lot worse.

 

Thanks to all for the nice words.

Note: I do not control the market, and asking me if I can pull off a 1.20 by the end of the month is...well...

Did you ask Santa? I know he'd like a cheaper CAD as he has to pay all the elves in Loonie.

 

One of you guys trying to buy at 1.1675? I can see the order on IB. I think were in for a couple of days of quiet consolidation. There could be a year end rally in $C due to year end position squaring.

 

Ohhh didn't try that *fires off an email to Santa*. I know it's unlikely but one can always hope!

(BTW, I have no positions in FX. I just get paid in USD and live in Canada)

 

Ah HA!

 

Closed Long .1645 @ .1725 - 80 pips
Closed Long .1700 @ .1725 - 25 pips
Closed Long .1723 @ .1725 - heh...2 pips.

I still think it's going to go higher, but at this point, I'm closing my year end positions. The money I made on CAD this year alone could make a nice down payment on a house.

Staying flat until next year.

Cheers, all, and happy holidays.

 

I like the CAD near month future slightly lower than just this moment and will buy one or two tonight (Asia or Europe) if near month drops to .8565. Will buy one at that price, second at .8555, with stops for both just below .8500. Target: .8725 and willing to hold for a while to get there. (Aside: For now, for CAD bulls, Ivanovich is safely on the sidelines.)

Given light (subdued) trade, and even though .8565 is skin tight to present range, I don't completely expect to see that entry price tonight. But trade is on in the event.

 

Anyone know what was behind the big move today?

 

Technically, a bullish cross formed, and resistance to break .1650 was too strong, so a bounce was assumed.

Fundamentally, natural gas prices dropped again, 35% in the last two weeks if you're watching, and some last minute HIA flows.

 

thanks Ivan..I was going to ask the same question. My eyes nearly popped out of my head when I saw the spike. Santa might be delivering me my X-mas present of 1.20 after all (although I'll certainly settle for anything over 1.18)