FXI and Canadian Dollar Update

Just a quick update on the Canadian Dollar and FXI. I'm still bullish on the Canadian Dollar. As you can see in the top chart the C-dollar pulled back to the FIB zone which is basically where our 4 week long entry was initiated a few weeks ago.

FXI obviously broke through the 50 day moving average so I am no longer bullish on that ETF. If you recall I was long FXI last week and got stopped out yesterday on the open. Ouch!