Friday, December 14, 2012

Daily Update on Canadian Dollar by @JimIuorio

Daily Update on Canadian Dollar by @JimIuorioSocialTwist Tell-a-Friend

Attached is a 30 day chart of December Canadian Dollar.

Our current long bias remains in tact having missed our stop out level by 2 ticks on yesterdays close.

We will maintain our long bias with a stop out level below 101.40 on a closing basis.

On a trade above 101.78 we will increase our longs today.

The fundamental argument for Canadian Dollar has several different layers.  China's strong numbers may have a positive effect on commodities and commodity currencies.  Market may be looking for acceptable safe havens as Japan approaches an important election that will have enormous impact on the yen.

Have a great day,

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