Wednesday, July 31, 2013

Long USD/CAD


Opened long USD/CAD as we clear the FOMC and prices bump the bottom of long term daily chart channel.  I remain convinced that what the ECB does tomorrow will be bullish USD, or at any rate not dollar-negative enough to push this below the strong technical support.  I look for this to be longer term position, targeting levels 300+ pips to the upside.

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