Forex: Canadian Dollar
The Canadian Dollar has been on of my most profitable trades for the year. I exited the remainder of my long position last week around the 90.50 level which is the high from last September.
The next level of resistance will be at last year's high which comes in around the 91.25 area. Many times when a market has an accelerated run into resistance, the resistance usually holds the first time it's tested. So if any of you are still long, the 91.25 area is a great place to take profits.
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4 comments:
I've held onto my position up until now and, thanks to you, it has been my best trade for the year also.
It's good to see you back, and I hope you stick around, even if it's just one post a week. Your analysis is amongst the best around.
Thanks Tyro...I'm glad you caught this move in the Canadian Dollar...
Kevin,
I really admire your insightful analysis. Thanks a lot!
I exited CAD much too early and then never get back in.
It seems USD index is coming to the 3 and 1/2 month cycle time, however, the stochastic is not above 80. Do you have any comment on this? Thx!
Hi Kevin;
What is your current opnion abot CAD ?
Thanks
Abacus
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