Wednesday, January 2, 2013

Canadian Dollar Update by @JimIuorio

Canadian Dollar Update by @JimIuorioSocialTwist Tell-a-Friend




Attached is a daily chart of March Canadian Dollar.



Although we maintain our long bias we would take this opportunity to exit half of position at these levels (101.38).

We are breaking with our initial upside objective because of the gap open and the markets tendency to fill in those gaps.  Also, when the market gives you a gift like this you tend to feel dumb if you don't take some advantage...will come back with a more detailed strategy soon.
 


Happy New Year,
Jim Iuorio

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