Wednesday, October 17, 2012

Thoughts on Candian Dollar by @JimIuorio

Thoughts on Candian Dollar by @JimIuorioSocialTwist Tell-a-Friend

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.

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