September Canadian dollar:
1. Our previous (Sunday, Aug. 6-10) September Canadian dollar updates indicated new long entry at $91.71 for a multi-day advance to $91.80 then $92.20/$22 expected into this week (week of Aug. 11).
2. The above buy order was canceled in our subsequent (Sunday, Aug. 10) update. However, we are aware of several clients who are long the Canadian dollar based upon the original update (long from at/near $91.71).
3. Self-directed traders likely exited a portion of their long position at the original $91.80 upside target. A further portion should be exited at current prices (current price, $91.95).
4. Because the market is running late for the original final upside target at $92.20/$22, a protective sell stop should be placed at $91.72 and moved higher as the market continues to confirm. Final exit should be at/near $92.20.