I'm long at 1.1180. It is coming off MAJOR lows so I think it's a pretty safe long for right now...however if it drops to around 1.1150 I might get out and wait for further confirmation that an uptrend is indeed going to start.
I have a key support level at 1149 and suspect we may ultimately get there. I would not be too quick to sell at this level unless it settles well below. Good luck on your trade. DRT
I can see 1149 as a good support level, but I think it might trade within 1160 to 1190 for a little while before making a move.
As Ivan said, this one is acting silly I think the pair was trying to break out of hell, but lost a little steam. I think this pair's 2nd wind is comming in the near future. I have to admit, I am not going to load on untill the next move. Just too silly! Good luck everyone. -Kastro
I'm not waiting for it to stop acting silly, I'm simply trying to understand the "Silly" aspect of it, so I can predict future "Silly" moves Take it as USD/CAD talks to you on a normal day, but when it acts silly, it's talking VERY quiet, you just have to wait and listen to it. -Kastro
so what the ^&*( is happening now?? Can this be a reaction to the fact that the Fed didn't raise rates, as nobody thought they would? Or to news that back in July when oil was hitting $80 the US c.a. deficit hit a record? What's holding the loonie up? Life support?
Read an article on the M+A flows into Canada in the last year. Since January, an estimated 51 Billion CAD was purchased due to M+A flows...a lot of it energy related. That would sure explain the propping up of the CAD in the last 10 months.