Forum > View Topic
by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:
Commodity FX (CAD AUD NZD NOK)
Discuss Commodity FX (CAD AUD NZD NOK)
You already prob' knew this but if a country increases interest rates, as predicted or surprisingly it is beneficial to the currency of that country - Guys put me straight if I am wrong. ta
Yep, I see that big red candle everytime on the 1minute. Also on the 1hr the candles are drfiting up, maybe looking to break free.
However, there is a belief, which I do not share, that the BOC will rais einterest rates before the FED will. Unlike the RBA and there nonstop manipulation higher of their local currency AUD, the BOC often bemoans a strong loonie, and therefore would prefer a higher uSDCAD.
However, some analysts are now calling for parity on this pair as the Canadian economy is in far better shape that the U.S. counterpart. 1.2000 is vitally crucial support level for this pair.
What I have found very odd is the trading pattern of this pair the last few days. There is also short-term critical resistance around 1.0295/1.3005. Everytime this pair even takes a sniff in this direction, it gets beaten down immediately 15 pips, which it takes hours to recover.
How come someone isn't out screaming like the Greeks that there are speculators trying to drive this pair to parity, like their are manipulators, RBA, trying to drive AUDUSD to parity.
Your ranges are accurate. Clear break above 1.0310 and this pair will fly towards 1.040. The RBA knows this, and also knows higher prices in USDCAD tend to mean lower prices in AUD USD. So who is continuously hitting the offer on USD CAD?
Compared to you, I don't have a clue when it comes to the markets, but I've just shorted the USD/CAD. I get a feeling you wanting this to go up.....Am I wrong on my trade.
I see it in a range with a top of 1.0292 and bottom of 1.0261. What do you think and others obviously - thanks