Attached is the chart of December Canadian Dollar.
Yesterday we never made it to the activation
level for our trade so we stayed on sidelines.
We are again watching CD Z2 with a stop-in level of 102.50.
If the market allows us an entry point today, I would consider balancing a long Canadian Dollar position with a short position in the Aussie Dollar. The fundamental argument for this would be recent signs of a deeper slowdown in china than we are being led to believe. Patience is the toughest part for us as I'm sure it is for you.
Good luck today.
