Canadian Dollar Vulnerable
Each
evening we focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the nightly
updates of the Futures and Market Bias pages. They are provided for
educational purposes only and are not intended to be direct trading
advice. Also, keep in mind that these remarks are made up to 12 hours
in advance of the markets opening. Therefore, overnight events may
alter the outcome of these observations.
The December Canadian Dollar (CDZ1)
gapped higher on the open but reversed to close poorly. This action
suggests its longer-term downtrend remains intact. Look for a shorting
opportunity here.
October
live cattle (LCV1),
another pullback from lows, reversed intra-day to close poorly. This
action suggests that its longer-term downtrend may remain intact. Look
for a shorting opportunity here.
Best of luck with your
trading on Tuesday!
P.S. Reminder: Protective
stops on every trade!
