Thoughts on Candian Dollar by @JimIuorio
Our Euro Currency trade from yesterday continues to work
and we would be inclined to leave it on.
We now turn our attention back to the
Canadian Dollar as it appears ready to breakout of the consolidation pattern
that has dominated over the last several weeks. If December Canadian dollar trades above 102.35 we
would initiate a long position and then add to that long if 102.55 is traded.
Our
initial objective would be a retest of old highs around 103.50 at which point
we would cover up to half of the position. Stop-out level would be a settle below
101.00.
