Monday, December 3, 2012

Update on our Canadian Dollar Position

Update on our Canadian Dollar PositionSocialTwist Tell-a-Friend

Attached is a 50 day chart of the CSZ2.

The last week of consolidation has resulted in a well-defined triangle pattern.  We maintain our long bias and would add to it on a close above 100.92, looking for a move to at least our original objective of 100.20-100.25.  We are still comfortable with our stop loss at 100.35 and would exit all longs on a close below that level.  We believe that some sort of compromise in Washington is likely, and will result in a continuation of the RISK ON mentality.

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