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What do you think of USD/CAD?

Posted by Satuki On December - 19 - 2009

Do you remember the post about my first forex position? Technically, it is a profitable position.

 

The US dollars has been strengthening recently. All major pairs have moved quite a bit except USD/CAD. I think it might try to catch up with the other guys. So I will open a long USD position in this pair. This time, no printed money is involved. It is a real electronic position. I promise :)

 

EUR/USD Daily (Click on the image to have a better view)

 

 

USD/JPY Daily

 

USD/CAD Daily

 

I just started trading Forex.  Let’s learn it together.


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Most Commented Posts

Forex, Trading
  • http://www.momdaytrader.com/blog/ Satuki (Trader Mom)

    Here is the update on this post. I made 9 dollars on this trade. That is a start.

  • http://www.momdaytrader.com Satuki

    Here is the update on this post. I made 9 dollars on this trade. That is a start.

  • ABC

    Hi Satuki, nice to see that you start trading forex too!

    Actually I am now ready to start shorting USDJPY.

    I looked at positions and it is clearly that big boys had reduced their short positions in Yen and at the same time while USD gained its strength its volume keep weakening.

    Maybe we are not quite here but it looks like near reversal. And of course reversal back to overall long term trend which is USD weakening, JPY strenghtening.

    Same with Swiss franc, big boys has almost no shorts at all, and when you look at daily chart USDCHF had already formed double top and started reversal from its short term uptrend which started early in december.

    Looks like late xmas gift :)

    Wish you good luck and good trading

    • http://www.momdaytrader.com/blog/ Satuki (Trader Mom)

      I think that the USD might be at a reversal point. EUR/USD seems to have broken the uptrend.

      I am still learning. Let’s see what will happen.

      • ABC

        As mentioned before, USDJPY finaly started going short on high volume and with bit of luck we have 2-3 weeks of declining. And some news about USDCHF, it seems that Swiss SNB could intervene really soon (look at EURCHF) so i am expecting maybe just one more one week of declining and then only god and Swiss central bank knows what will happen.

        • ABC

          I looked at positions in USDCAD, and looking on the chart I see that we could be very close to posible short term trend reversal.

          • http://www.momdaytrader.com/blog/ Satuki (Trader Mom)

            I am waiting a little bit becuase It might make a new low here.

  • ABC

    Hi Satuki, nice to see that you start trading forex too!

    Actually I am now ready to start shorting USDJPY.

    I looked at positions and it is clearly that big boys had reduced their short positions in Yen and at the same time while USD gained its strength its volume keep weakening.

    Maybe we are not quite here but it looks like near reversal. And of course reversal back to overall long term trend which is USD weakening, JPY strenghtening.

    Same with Swiss franc, big boys has almost no shorts at all, and when you look at daily chart USDCHF had already formed double top and started reversal from its short term uptrend which started early in december.

    Looks like late xmas gift :)

    Wish you good luck and good trading

    • http://www.momdaytrader.com Satuki

      I think that the USD might be at a reversal point. EUR/USD seems to have broken the uptrend.

      I am still learning. Let’s see what will happen.

      • ABC

        As mentioned before, USDJPY finaly started going short on high volume and with bit of luck we have 2-3 weeks of declining. And some news about USDCHF, it seems that Swiss SNB could intervene really soon (look at EURCHF) so i am expecting maybe just one more one week of declining and then only god and Swiss central bank knows what will happen.

        • ABC

          I looked at positions in USDCAD, and looking on the chart I see that we could be very close to posible short term trend reversal.

          • http://www.momdaytrader.com Satuki

            I am waiting a little bit becuase It might make a new low here.

  • ABC

    I am now looking at GBPCHF and CHFJPY. On daily chart CHFJPY is near its support within range, so bounce from that support is possible, this pair is in range for months. And also on daily chart GBPCHF seems like good candidate for short, add RSI 14 and really nasty divergence will show itself.

    • http://www.momdaytrader.com/blog/ Satuki (Trader Mom)

      Thanks for your heads-up. I know my blog is heavily skewed to stocks.
      But am launching a forum soon where we will have a dedicated board for us who speak PIPs.

  • ABC

    I am now looking at GBPCHF and CHFJPY. On daily chart CHFJPY is near its support within range, so bounce from that support is possible, this pair is in range for months. And also on daily chart GBPCHF seems like good candidate for short, add RSI 14 and really nasty divergence will show itself.

    • http://www.momdaytrader.com Satuki

      Thanks for your heads-up. I know my blog is heavily skewed to stocks.
      But am launching a forum soon where we will have a dedicated board for us who speak PIPs.

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