Friday, October 26, 2012

Thoughts on December #Canadian #Dollar

Thoughts on December #Canadian #DollarSocialTwist Tell-a-Friend



Attached is a chart of December Canadian Dollar.

In this morning's piece we mentioned an inflection point and potential upside breakout in the Dollar Index.  This does not appear likely, at this point, causing us to believe that the full-fledged Dollar rally is on hold.

However, we do believe there may be an opportunity in Canadian Dollar. If CDZ2 settles below
100.28 we will consider a short position as it looks like a bear flag formation has been confirmed.  Downside objective is 98.50-60 with a stop loss on settle above 101.00.  Had the Dollar Index confirmed direction, or, if it does in the future, we will become more confident and add to the shorts in this position.    
                                                               
                                                               

Posted by Hamzei Analytics, LLC at 2:55 PM

Disclaimer and Terms of Service

© Copyright 1998-2023, Hamzei Analytics, LLC. Hamzei Financial Network is published by Hamzei Analytics, LLC, Naples, FL 34112, Admin@HamzeiAnalytics.com (310) 306-1200. The information herein was obtained from sources which Hamzei Analytics, LLC believes are reliable, but we can not and do not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that Hamzei Analytics, LLC or its principals may already have invested or may from time to time invest in securities or commodities that are recommended or otherwise covered on this website. Neither Hamzei Analytics, LLC nor its principals intend to disclose the extent of any current holdings or future transactions with respect to any particular security or commodity. You should consider this possibility before investing in any security or commodity based upon statements and information contained in any report, post, comment or recommendation you receive from us. The content on this site is provided as general information only and should not be taken as investment or trading advice. Any action that you take as a result of information, analysis, or conclusion on this site is ultimately your responsibility. Always consult your financial adviser(s) before making any investment or trading decisions.