Attached is a 50-day chart of December Canadian Dollar.
Unfortunately we took off half of our position before
the Fed announcement but, on the bright side, we are still
long. The Fed changed its language from "low rates through
2015" to
"low rates until unemployement rate below
6.5%."
This is strong language as any real labor market strength could be met
with increases in the participation rate. For this reason we
still have a long bias in canadian dollar. We would move stop
level on remaining position to a settle below 100.48.
Good
luck today,
Jim Iuorio