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Canadian Dollar Currency Index

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CXY trade ideas

CXY Short Trade IdeaLooking at CXY medium to long term, it has been in a hectic downtrend since 2011 mid-year. This tells me that there is a lot of underlying bearish momentum even though the 5 wave motive move has been completed as well as it's subsequent ABC corrective structure. Therefore, on this note, Could we possible expect a continuation of the preceding downtrend and a weaker CAD for another quarter? or a formation of an uptrend to take up strength for the CAD? Let's discuss it down below. For now however, CXY may be in a corrective structure in a smaller degree than the larger downtrend scale. So For the next month or two I will be expecting the formation of the B leg. Price closed below 75.0 on Friday, signalling the possible cap of the short live A impulse. Targets: -70.8 -69.0 Let me know what your thoughts are on CXY for the upcoming quarter, Have a blessed trading week ahead and stay on the right side of risk management.
TVC:CXYShort
by Theto_Morifi
ridethepig | CAD Quarterly Outlook 📍 USDCAD Prepare for a flush in CAD with the ever-present threat of Canadian tariffs from Trump. Protectionism is excellent at the best of times...let alone in the middle of a pandemic... right 🥺 The unwinding is picking up speed - RSI on track for the decline and pressure looks set to carry us into the 70 handle. => A possible breakdown can also now be met with the USDCAD flows. As you can see, the CAD weakness has affected the basing structure and now sellers of the Canadian Dollar will deprive buyers the fruits of their deeply laid plans of Dollar devaluation across the board. Thanks to a little tactical finesse, to this trade.
TVC:CXYShort
by ridethepig
4
CXY (Canadian Dollar Index) Loonie So on the CXY we have an incomplete Bat Pattern we see PA enterered the PRZ and was severly rejected without completing the pattern. We need the entire box to be tested before the pattern is complete. So, on the COT what we have are the Consumers and Producers buying and selling to eachother. As open interest has increased but the Non-Coms have reduced both their sides respectively while both sides of the commercials have increased thiers. if you were just looking at the Net Positions it would look as if the commercials are stepping to the Zero Line and the Non-Coms are stepping away from the Zero Line, but looking at the Line items the Commercials both have increased their positions, and the Non-Coms have reduced their positions. Now, interestingly enough the Non-Coms spread have increased thier Net-position. Now, normally we dont really pay attention to the spread as they are playing both sides of the plate. For example one company could be buying and selling the same currency. So, the Loonie might be stuck in a range this week so as a harmonic trader the CAD might be a pair I monitor closley as the Harmonic Trading strategy is best in a ranging market. The COT Net Data: Commercials- Current== 24,363 // Previous== 25,110 Non-Coms- Current== (25,486) // Previous== (24,829)
TVC:CXY
by ARegularGuy
3
CXY (Canadian Dollar Index) Loonie Okay, here is why I decided to learn and study the COT. the pattern is a bearish bat pattern with a permissible tolerance of 3% of the B-point. Its a gorgeous pattern and could possibly go long term; however, i dont see it happeneing. The pattern is showing a sell and the COT which reports the big players positions a potential buy. so i would say approach the CAD with caution. while this pair transitions. The COT report shows us that the Loonie Tune players are stepping closer to the Zero line again this week. Indicating that the Loonie could enter a Bullish trend. Now this makes sense as we're enteing the Summer Months here in the US and above the equator (or however you spell it) so travel is going to increase. Now, SARS 2 is running amuck and not being checked, the government here in the US is trying to tighten down restrictions, but i dont see the American People obeying such orders too much longer. I dont think we will ever truly know the mortality rate of SARS 2 in the US as they decided to provide hospitals with additional funding for SARS 2 related treatments so it seems like someone can test postitve but die from a carcrash and the hospital will code it as a COVID-19 related death to earn some extra money. I suspect this is happeneing all over the world and so i truly think the numbers are highly influxed. until the funding stops we will never know. so maybe in a few years when the extra funding has stopped we will see the true numbers and thats not including the shotty testing methods and the questionable regaents being used. with all that being said... travel is going to pick up LOL and its no seceret that the Canadians are exporting more than maple syrup. Their #1 export is oil and they sell the majority to us the US. Oil is struggling but is finding its footing. So, therefore, the Loonie will too. here is the COT Data the Commercials on the Producers and Consumers have reduced thier positions and have taken a decent step closer to the Zero line while the Non-Commercials are marching forward in stride as well. the Comercial Net Data the Current= 25,110 // the previous = 32,240 the non-commercial current= (24,829) // previous = (33,138) so, we can clearly see the sides are marching closer and closer to the Zero line; therefore the Loonie, will get stronger. So, the pattern might be a good setup for catching some high risk manipulation pips or we could see this as relief of the commercials allowing PA to renter the PRZ for it to truly drive down. But, again with the summer here and travel picking up regardless of travel restrictions i see oil picking up and so will the Canadian Dollar.
TVC:CXYShort
by ARegularGuy