Friday, October 03, 2008

Canadian Dollar Makes A New Low For The Year



Today the Canadian Dollar made a new low for the year. As you now I've been bearish on this currency and was looking for lower prices.

Below is a seasonal chart of the Canadian Dollar and as you can see there is some seasonal weakness that comes into play right around now going into December. As long as the Canadian dollar continues to go lower I will stay short but I am also trailing a stop to lock in profits just in case this market turns back up. We'll see how things unfold.

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