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Canadian Dollar Currency IndexCanadian Dollar Currency IndexCanadian Dollar Currency Index

Canadian Dollar Currency Index

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CXY trade ideas

Loonie got cornered and about to explode UPCanadian dollar is one of a few major currencies which is strong (thanks to crude that has been pushing it up). It broke from its bearish channel in 2004 and turned bullish. It restested twice the old resistance which now became a support. And now we are about to start a long drive up which will last for months. Just for a few days CAD will be going down before the major swing to the skies...Looks for sells in xxxcad pairs and buys in cadxxx pairs next months.
TVC:CXYLong
by ICFX
CXY Momentum I fully expect the CXY to continue to rally. Long term I expect it to hit 90. There is a possibility it could make a top around 79.6, decline a few points, and then continue its rally later. But should it break 80 without any regard for the level, I believe a target of 90 is more than feasible, and may be reached in a quick fashion. Should this momentum continue, CAD pairs like the CADJPY, USDCAD, and GBPCAD, will continue to be dominated by Canadian momentum while their counterpart may stall on lesser momentum. Of those, the USDCAD seems to be the most promising. Every rally on USDCAD is a sell. -dave
TVC:CXYLong
by davesp1903