Thursday, March 13, 2008

Canadian Dollar Update



As you know I'm long the Canadian Dollar based on cycles, momentum divergence and the direction of the longterm trend.

As of now I am basically breaking even on the trade. If the Canadian Dollar can rally above last month's high (103), I'll raise my protective stop right below this month's low which is in the 100 area which will cut down my risk on the trade. I'm always looking to cut my risk as soon as the market gives me the chance to do so.

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