Attached is a daily chart of December Canadian Dollar.
We maintain a positive bias as the "risk on" trade
has shown no clear signs of reversing. Later in the day, we will hear
from the Fed and expectations are for an increase of
asset purchases. This creates a possibility of disappointment. We
would be inclined to cover half of our long position before the Fed release. For the other half of our position we would set
a stop below 100.95 on a closing basis.
Good luck today..
Good luck today..