Democratic Underground - More blather - Democratic Underground

http://www.dailyfx.com/story/topheadline/Is_it_a_Coincidence_that_1190306250485.html

USD/CAD: The Canadian dollar has also set fresh multi-decade heights in dollar terms, with the currency hitting parity with the greenback this morning. Clearly, US dollar weakness has played a very large part in the Loonie’s advance. Yet the Canadian dollar has likewise benefited from oil prices at record-highs and buoyant demand for mergers and acquisitions of Canadian corporations. This leads the Loonie as the perfect anti-dollar trade, with overall momentum to send the currency beyond $1.00 through the short term. Technically, a drop below 1.0004 completes 5 waves down from 1.0173, which would potentially lead to a larger corrective rally back to 1.0175 (former resistance) before a drop to yet a new low that would possibly complete the entire decline from 1.1825.

OK, so I'm not insane. That's what I've been saying pretty much for weeks and thought I was a lone voice in the wilderness.

(linked from the previous article)

http://www.learncurrencytrading.com/fxforum/showthread.php?p=135978#post135978

I know that this is not the EW forum, but I thought I'd share the wave count with this forum since the count is clear.

The USDCAD dropped to 1.0004 this morning and lower prices lie ahead. The vertical drop from 1.0132 is undoubtedly a 3rd wave in a 5 wave decline from 1.0173. As such, look for consolidation in a 4th wave correction before a drop to a new low (below 1.0004). A drop below 1.0004 to complete 5 waves down from 1.0173 would potentially lead to a larger corrective rally back to 1.0175 (former resistance) before a drop to yet a new low. That would possibly complete the entire decline from 1.1825. We are showing the 25 min chart this morning.

(pretty picture followed by some other posts from a variety of people including mods)

hi all i am not agree with jamie view about usd/cad becuse usd/cad is in 5rd wave and ended 4rd wave and usd/cad will go untill 127 fibo in 5rd wave (0.9940) till 5rd completely

...

84% of retail traders are long USDCAD (long to short ratio is 5.34). However, since last week, retail has been selling the USDCAD (short positions are up by 8.3%). When retail is long but reduces its exposure, the long term direction remains bearish but the market might have some upside in the short term. The SSI gives us a MEDIUM SIGNAL TO SELL USDCAD.

:wtf:

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