Wednesday, October 10, 2012

Thoughts on Canadian Dollar Currency Futures by @JimIuorio

Thoughts on Canadian Dollar Currency Futures by @JimIuorioSocialTwist Tell-a-Friend
 
 
Attached is a daily chart of December Canadian Dollar (CDZ2).
 
 
The current pattern is interesting in that it is forming a pennant within a broader triangle.
 
A trade above 102.50 constitutes a breakout of both patterns and suggests an upside objective of 103.59.
 
I am considering a stop-entry trade at 102.52,  take partial profit at 103.50 with stop-loss settle below 101.70

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