The Cad broke thru the hedge level and has moved on up to the 9660 level where it found resistance. I think that the fact that today is a holiday in the US and Canada many of the banks are not participating and there for the level failed.
Addionatlly the thin market we are trading in do to the holiday makes for easy manipulation. The Cad has had a long run and is due for a retracement so I will hold the partial sell hedge order and look to release it on the retrace. Parity is confirmed now more than ever however I feel that we will need a decent retracement to really make the next strong move up to a dollar.
Dustin is recognized as one of the top Forex traders and education authorities in the world today. As the President of Forex Traders Daily he has helped thousands of traders learn how to profitably trade the Forex market. Dustin's goal is to help you achieve your financial goals faster and easier than you ever imagined. You can follow him and Forex Traders Daily on: Twitter, Facebook, and Youtube.
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Author: Dustin Pass
Dustin is recognized as one of the top Forex traders and education authorities in the world today. As the President of Forex Traders Daily he has helped thousands of traders learn how to profitably trade the Forex market. Dustin's goal is to help you achieve your financial goals faster and easier than you ever imagined. You can follow him and Forex Traders Daily on: Twitter, Facebook, and Youtube.
