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USDCAD Bullish BAT 4hrs updated

Discussion in 'Personal Trade Journals' started by kasim ijelu, Mar 22, 2011.

  1. kasim ijelu

    kasim ijelu Private, 1st Class

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    A-B Point that is less than 0.618 retracement, Preferably a 0.50 or 0.382 of XA leg defines the Bullish BAT Pattern The bullish 0.886 retracement is critical in the setup. Typically, bulllish BAt pattern are excellent 5-point corrective structures found in well established support level
    might i add if it does get above 55DMA this pattern is very very powerful
    Still we have well exstablish support Zone and price has stopped at the 113%secert fib line
    very powerful too
    I forgot to mention this pattern is very very powerful

    would like to keep an ear out for stunning news supporting the US against the CAD very Soon!!!:eek:oh::D


    pls post comments
     

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  2. kasim ijelu

    kasim ijelu Private, 1st Class

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    cad News

    For a second month in a row, Canadian consumers cut back on spending as headline retail sales for January slid 0.3% to a seasonally adjusted C$37.1 billion.

    That follows a decline of 0.2% in December. Both figures undershot expectations, and January’s data surprisingly so. The consensus forecast had been for a 1.1% increase in retail sales.

    If we take motor vehicles out of the equation, sales were flat for the month of January, after a 0.6% increase in December.

    Therefore, where in December, the bulk of negative reading could be blamed on a big drop in car sales, this time overall core retail sales show that consumer spending has hit a rough patch.

    For the official release, follow this link to the Canadian Statistics report.

    The data is slightly dated, since it measures the first month of the 1st quarter and we are almost done with the quarter, but it can cause some consternation among economists that the Canadian economy may not be as strong as anticipated.

    The Canadian Dollar weakened in the aftermath of the data.
     
  3. kasim ijelu

    kasim ijelu Private, 1st Class

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    Leading Indicator Cad News

    The composite leading index rose 0.8% in February, double its gain in each of the previous three months and its largest advance since May 2010. The increase was broadly-based, with 9 of the 10 components posting gains in February compared with 5 rising the month before. A turnaround in manufacturing contributed to the overall increase in the index.


    In manufacturing, new orders for durable goods rebounded 1.0%, after three straight declines. Some of this upturn reflects the marked improvement in exports in December. The ratio of shipments to inventories posted its first gain in five months. Manufacturers appeared optimistic that the improvement in demand was sustainable, as they extended the length of the workweek and substantially boosted employment levels over the last three months.

    The stock market continued to lead all components with a 2.7% increase in February. The housing index was close behind with a 1.8% advance, mostly due to higher existing home sales. The improvement in housing was reflected in furniture and appliance sales, up 0.9% for their first gain in eight months. Spending on other durable goods rose 0.6%.;)
     

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