Monday, December 24, 2012

March Canadian Dollar Trade Update by @JimIuorio

March Canadian Dollar Trade Update by @JimIuorioSocialTwist Tell-a-Friend

The march Japanese Yen contract never hit our trigger so our long bias was not confirmed.

That leaves us neutral the yen and looking for next opportunity.  Attached is a chart of the march Canadian Dollar(CDH3).

The bounce off well-defined support level of 100.18 suggests an upside move to 101.60.  We will consider a buy at these levels with a stop-out on a settle below 100.15.  Our main concern is that thinly traded holiday markets are sometimes unpredictable so wade into the water with care.

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