Eddied01

Eddied01 Updated 

I thought we would get a more aggressive wave 2 but yesterday was weak and so is today. This would suggest that there is more downside and the bottom is not in yet Storage build 61 vs 58 not a deal breaker. The energy sector in general pulled down by oil My plan will change again if wave 2 is not completed yet. Trade above 3.082 as part of wave 2 would suggest...

Eddied01 Updated 

May has caused so much havoc/uncertainty on top of showing weak leadership with a weakened parliament that the potential soft brexit is forgotten! The dollar on the other hand is on the way up

Eddied01 Updated 

If my counts are right we are going into wave 3 of 3 which is know for rapid movement and on average into new highs This could be a nice ride

Eddied01 Updated 

The setup looks good ,rising in a third wave now Bullish towards 1270.68 while price holds above its Fibonacci 0.618 retracement level - now at 1252.28. Will re-evaluating. if it falls lower

Eddied01

Comments as per comments on 360 min chart/posting

Eddied01

CAD Retail results out in 2 hours. Could determine which option will play out Bear flag?

Eddied01

Bounced of the 200D MA as well as the medium term support line. Looks like the bottom is in

Eddied01

Big guns are long and it does seem like it is just about ready to turn up

Eddied01

Should shoot up with a lot of momentum. Jun 2016 closed at 1318 and i recon June 2017 will close above this. The trend over the past 2 years have been an aggressive pull back pre the FMOC and then a rally post the FMOC regardless if the rates were hiked or not. Pull back in June was not as deep as usually which could lead to higher highs by month end

Eddied01

Overall bearish trend to continue. COT reports indicating that commercials are net short

Eddied01

Sideways trade along its recent low leaves USDCAD vulnerable to a new low beneath 1.3165. Targets at 1.3133 and 1.2882. 1.3387 area represents resistance, should not be broken Dollar will strengthen over the weeks to come relative to the loonie. 

Eddied01

Potential scenario if it breaks out this year Let me know what you think in 10 years :)

Eddied01

Does seem like the dollar will end the year very strong.Very similar trends compared to 1998-2001. US fundamentals backing this up.