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Thoughts on the Canadian Dollar Currency Futures by @JimIuorio

TradingPub Admin | October 10, 2012

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Special thanks to Jim Iuorio of Hamzei Analytics for the following guest post on Canadian Dollar Futures traded at the CME.  Jim highlights a daily chart of the December Canadian Dollar (CDZ2).  He says that the current pattern is interesting in that it is forming a pennant within a broader triangle.

A trade above 102.50 constitutes a breakout of both patterns and suggests an updside objective of 103.59.

He is considering a stop entry trade at 102.52, will look to take profits at 103.50 and use a stop loss of a settle below 101.70.

Hamzei Analytics is currently offering a free trial to its Currency Futures Feed.  You can send a follow request to gain access to this trial at the following link:  Gain Access to Currency Futures Feed Trial

Cheers,

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