Forex

Are quoting the USD?CAD price or the CAD?USD future price

For both Canadian forecasters quote the ratio as CAD/USD

News from the feed:

"(MMS)The Loonie had good reasons to rally against its US counterpart as global equ...
The Loonie had good reasons to rally against its US counterpart as global equity markets rallied on the back of the Fed's announcement of a $200 bln liquidity injection to encourage financial inst to lend. The surged in oil prices above the $108 level also gave a prop to the Loonie as the [USD/CAD] slipped from an earlier high of 0.9973 to an o/n low of 0.9893. The Loonie was also bolstered by a much better than f/c trade data with Jan trade surplus coming in at C$3.3 bln from C$2.3 prev as exports surged by 3.6% as well as from the BOC's assurance that it stands ready to pump C$4 bln into the mkt to help ease credit strains. Given the various compelling reasons for the Loonie to strengthen, we prefer to sell rallies to 0.9940/50 with stop at 0.9990 for a move twds the 0.9820 lvl. Buying orders at 0.9885 by importers will provide support while selling orders at 0.9950 by fund and spec types will cap the topside this session. "

Soon should arrive highly. To expect in the market 0.9980 next 1.0042
and 1.0180

What do u think

we can easily tell what traders are interested in. The turnover in the EURUSD, USDJPY, GBPUSD threads are amazing. However, we have barely any convo going on for USDCAD. This is proof positive that this pair follows its own path.

I'm looking at 0.9975/1.0000 as near-term resistance and 0.97 as close support. I am considering putting stop orders in for a breakout to either side. However, I don't like doing it before the weekend.

Anyone else looking for a big break? Are the Elliot Wavers still seeing a drop to and below 0.91?

All can be !!!
today , I see high 0.9965. I expected 0.9980

Soon should arrive highly ?????

What do u think

Good questions Khan...I too am waiting in anticipation...

This is where I am placing my money for the coming week.

US Cuts Rates Heavily.
Central Bank Intervention - JPY/EUR/CHF - MAINLY. Rollover in them.

Gold in JPY/EUR/CHF terms rockets next week, along with US Gold.
Inflation fears grip the globe, commodity currencies AUD & CAD rally hard.
30 Yr Treasury falls out of bed.
Central Banks continue to monetize defaults and bankruptcies.


AUDUSD - Overshoots Parity. 1.03
USD/CAN - Retest of lows.

"[USD/CAD] has rallied through the top of recent ranges and namely parity as oil gets sold off heavily in late European trade. A raft of US announcements, including the lowering Housing Agency capital requirements and use by primary brokers of the Fed's new discount facility has caused the Usd to firm and thus sending the commodity lower. Directional players were noted sellers around the 1.0010 level earlier today, however the pair has continue strongly higher. Technically, the break through 1.0000 targets 1.0199 next. Note, one UK clearer has called for an eventual 1.0700 test. "

Shooting star in 30min chart

RSI over 70

is this a reversal?

Good time to enter short?

Time only has right to judge whether it is
SHORT r LONG