Loonie Direction

[charliep]

Any thoughts about the loonie direction over the next few weeks and risk management actions that should be taken?

Charts can be found at:

http://futures.tradingcharts.com/chart/CD/64

http://futures.tradingcharts.com/chart/CD/W

http://futures.tradingcharts.com/chart/CD/M

[crusher]

We bought the Canadian dollar because it was in the low end of its trading range. The trend to the upside appears to be broken and I anticipate the $$ to trade lower over the longer term. I took a position for risk management purposes. My next position may be 410 July calls, a strictly speculative play, but we could still see some sparks flying this summer.