Tuesday, November 27, 2012

Update on Dec Canadian Dollar

Update on Dec Canadian DollarSocialTwist Tell-a-Friend

Attached is a daily chart of December Canadian Dollar.

Yesterday was a perfect example of why we need a settle above/below a certain level before we stop-out.  It increasingly seems that there are programs that attempt to flush stops on an intraday basis.  We maintain our long bias in Canadian Dollar and would add to long position on a trade     
above 100.88.  Short term objective is 101.25, where we would cover half of longs.  Longer term objective would be 102.30.

On new longs (above 100.88) stop loss is 100.60 while on original longs, our stop loss is 100.35, both on closing basis.

Good luck,

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