AUTOREFRESH 
USD/CAD: support holds at 1.0155
By Sean Lee || March 15, 2010 at 00:34 GMT
|| 6 comments || Add comment
I know nothing about USD/CAD, let’s make that clear from the outset, yet I do get some good pieces of information there from time to time. I was told last week by a professional trader that if you want to be long, make sure your stops are below 1.0155. The low on Friday night was 53 I believe. It looks like this level has been vindicated, so if you are still long I’d be getting nervous below 1.0150.
Have a dry weekend all 
I was gonna comment on that 1.0155 accuracy Sean, gotta love it. Still small, never added anything cuz it’s looked anemic. If it starts showing life I’ll add higher. You always have the craziest suggestions for pint fillers! I’ll stick with the Black stuff!! Yum !
Hey Sean, That was great intel on usd/cad. I still think that S&P will close that gap from two fridays ago and that oil will get knocked back into the 70s and that usd/cad will get a little bounce. But it does seem that the usd/cad situation has changed a in the last 6 months. In October, the BoC didn’t want a stronger currency, now they are resigned to it and look at the bright side- their exporters can buy US companies and parts at better rates…
/CL broke the hourly trendline @ 11am NYC on Fri, and has since retested the bottom of trendline. I’d say a trip to the 70’s holds water, er, um oil?
Start brushing up Sean. Don’t be a slacker. Kidding
Just picked up some pips on aud/usd. Good cyn opening should bounce all of you eur and gbp traders.
Sean, thanks for your thoughts (of earlier today) about the USD/CAD 1.0155 price level. In my opinion, the USD/CAD should grind lower for the rest of this month (unless there is a fantastic spike in global crude oil prices). FYI: my current (short, of course) price target = 1.0016 (161.8% projection of 1.0779 to 1.0369 from 1.0679); my secondary (shorting) price target = 0.9444 (100% projection of 1.3063 to 1.0784 from 1.1723). In any case, as long as 1.0779 resistance holds, I believe that there is a higher chance of heading toward parity (with the US dollar) than the other way around.