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What is the next move of USDCAD?

Mon, Oct 15 2007, 03:56 GMT
by Anthony Samaha

ForexSurvivor


ForexSurvivor

Always in the market signalling 40 different currencies with spread less than 35pips, 10 Equities, Crude Oil, & Gold.

 

 

Forex Department

ForexSurvivor Long Term USDCAD Target @ 0.9864 has been filled, enjoying 1,680pips since July’07

 

USDCAD is the 13th ForexSurvivor Long Term target that has been accomplished for 2007. On the waiting list is EURUSD which has not been entered yet its Bearish Signal towards 11000, and all the other currencies are working properly towards its Long Term Target.

 

 

Reminder: Below is USDCAD analysis that was released on 13 July (Weekly Newsletter) 2007. (Some people think Number 13 is bad: this is the 13th Long term target that has been filled, and its wire was published on 13 July – not that bad).

 

[Beginning of the reminder]

Stay Long CAD, Gold, & Oil while you go on holiday

CAD = Parity; GOLD = 1020; Crude Oil = 1st target $106/bl

           

Summer season starts with an eye on the political issue in the ME region. The situation is tensed with Iran and the approach towards structuring US ever largest sea, air, & marine concentration has been built & deployed opposite Iran.

 

With such deployment, we can not scrutinize only chart indicators or economic figures to direct trading signals with regard to Gold and Crude Oil. ForexSurvivor Octopus System is the Leader in such circumstances.  The bid is fixed and the trend is entrenched. As such, we can not expect CAD to weaken that easy yet. CAD ‘Octopus’ indicators are pointing to Parity in the near term which is ForexSurvivor Target since Feb 2007.

 

Any CAD retracement or correction towards 10975 / 11000 is an opportunity for keeping the Long on the run towards Parity or Elliot wave at 0.9864 [end of the reminder]

 

What is the future move of USDCAD?

 

Technically Speaking, USDCAD is about to have a reversal flare-up that will be eclipsed towards 10300 & 10900 before 0.9000 fundamentally is seen and where the market will settle at that bottom for a complete season.

 

As of now, being bullish signal is highly preferable, even though 0.9500 may keep damaging a chart capitulation.

 

 

Non-Forex Department

No Change In View of Previous Week Wire

 

What happened in the first week of October completed 100% my August epic vision when consolidation market crunched then. What is going to happen next is a little of no trend but rather a move through bumps.

 

Equities may form (or formed) almost double top, and if the weekly close proves to be levelled around the high of August (just before the turmoil), then we might be ready of building an ascending triangle where an upward trendline from the daily lows since August and up to now should be tested, generating false breaks, before heading back towards new highs that may last till year end. Dax bullishness incomplete and S&P TP @ 1600.

 

Anthony Samaha

Trading Engineer

 

*** The Potential Flows of Trading Information constitute my judgment and are not trading recommendations. ***

 

Published on  Mon, Oct 15 2007, 03:54 GMT


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The Potential Flows of Trading Information constitute my (Anthony Samaha) judgment and are not trading recommendations. **** Risk: ForexSurvivor issues its ‘1 minute with ForexSurvivor’ program for information purposes only. The information contained is not reviewed in the light of your personal circumstances, should not be construed as an offer to sell or solicitation of an offer to purchase or subscribe for any investment or service. ForexSurvivor Team makes no guarantees, representations or warranties and accepts no responsibility or liability as to its accuracy or completeness.


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