Wednesday, February 28, 2007

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!

2 comments:

h. lovil said...

Thanks!

Sandro said...

I'm also bullish Yen. Carry trades are unfolding.

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