Issued: 09/17/2014
Dec. Canadian dollar:
1. Continued hourly and especially a daily close below $91.15 in the Dec. Canadian dollar indicates a tradable multi-day decline and test/attempt at $90.52/$50 then $90.24/$22 into late this week (week of Sept. 15) or early next week (week of Sept. 22).
2. Therefore, how today’s Dec. Canadian dollar session handles $91.15 remains important and may prompt new short entry for the above-noted decline. Will update as the market confirms.
David Williams
Issued: 09/17/2014
Dec. Canadian dollar:
1. Today’s earlier Dec. Canadian dollar report indicated new short positions upon continued hourly and especially daily close below $91.15 for a tradable multi-day decline and test/attempt at $90.52/$50 then $90.24/$22 into late this week (week of Sept. 15) or early next week (week of Sept. 22).
2. Today’s session traded above $91.15 but late in the day broke down and closed the hour at $90.94, decisively below $91.15.
3. Aggressive traders short based upon the above should have exited a portion of their position at/near the $90.52/$50 downside target (today’s session low, $90.54, so far).. A further exit should be taken at/near $90.25.
4. A protective buy stop should be placed at $91.07. This stop will be moved lower as the market continues to confirm. Will update.
David Williams
Issued: 09/17/2014
Dec. Canadian dollar:
1. The secondary downside profit target at/near $90.24/$22 noted in our original Dec. Canadian dollar report isn’t due until early next week. Therefore, the majority of your short position should be exited at/near the $90.52 initial target so that only the smallest remaining portion is exposed to the time risk between today and early next week.
David Williams
Issued: 09/19/2014
Dec. Canadian dollar:
1. Today’s Dec. Canadian dollar continued on the recent advance and triggered our $91.07 protective buy stop. This resulted in a successful trade overall (short at $90.94, initial exit at $90.54, stop at $91.07).
2. The next important daily top for the Canadian dollar is Mon., Sept. 22 (+/-1 day). Will message any new entry based upon this top as the market continues to confirm.
David Williams