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Posts by "mo"
130 Posts Total by "mo":
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Posts by Anonymous "mo":
I am glad it worked out well for you today :-)
About me I am swing/ position trader , At the moment I have 5 standard lots long USD/CAD position which I opened 2 days ago at the 1.0810 level my profit target is around 1.13 -1.15.
have nice weekend:-)
I meant to say long USD/CAD and hedge this position by buying AUD/USD
Qin, I agree with you, out of all the currency I am watching I think the USD/CAD is SCREAMING for reversible, Specially after the BOC yesterday comment and todays poor unemployment numbers. So I guess if you want to enter long you could buy AUD/USD and short CAD/USD. good luck
Long term I believe that commodity currency well rally against the usd. but I still think there will be a big correction before that. So I am staying side and waiting for the AUD and CAD to get to 72-3 and 1.19-1.17 to go long, for the time being I think it is very risky to enter long.
I am planning to keep my Long Aud/USD, and short CAD /USD as hedge. Any thought?
on the 6th of October /2008 the S&P 500 was standing at 1056
Thank you Ashraf
I also would like to high light that last time usd/cad reached 1.10 was on the 6th of October last year , at that time the S&P 500 was standing at 1320 , Dow was 10066, and oil at 82 ,
And before that on May /2006
S&P 500 was standing at 1320 , Dow 11500, and oil at 64.
Following your comment the pace of the decline in USDCAD from 1.30 to 1.10 in 13 weeks was rapid, but as rapid as the rise from the 1.0580 low in October to the 1.3020 high in October, which lasted only 4 weeks
But when the Usd/cad reached 1.302 in October it was followed by correction of 1500 pips, do you see the same thing happening now upon USD reach 1.08-1.03 level.
Do you think the decline of the Us dollar against the Canadian is over done , I.e the US dollar declined from 1.3050 to 1.1150 in two and half months. I took twenty one months from Sepetember 2004 to May 2006 to fall the same amount .