At the end of the previous trading session I had the following position;
Long 300,000 USDCAD with ACB of 0.96662
US markets were closed today and I took the time to research and find reasons to support & dispute my Thesis.
The following articles caught my interest.
Article - "S&P warns bank plan would cause Greek default - Ratings agency S&P warns Greece it would be in default if French banks' plan is enacted"
http://finance.yahoo.com/news/SP-warns-bank-plan-would-apf-3299778612.html;_ylt=Ar3lIoiSm3bpa1_v.sdBXyyxba9_;_ylu=X3oDMTFlbjc2cXJyBHBvcwMyNQRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNzcHdhcm5zYmFua3A-?x=0
Article - "UAE offers Egypt $3 billion in aid - United Arab Emirates offers Egypt $3 billion in aid"
http://finance.yahoo.com/news/UAE-offers-Egypt-3-billion-in-apf-3193083842.html;_ylt=AvpRLDvJVvSzwp4YeAsTvU.xba9_;_ylu=X3oDMTFkMXNramh1BHBvcwMyBHNlYwNuZXdzSHViQXJ0aWNsZUxpc3QEc2xrA3VhZW9mZmVyc2VneQ--?x=0
I am seeing EURUSD weaken slightly, and USDCAD strengthen slightly.
This week we have;
Reserve Bank of Australia expected to hold interest rates.
Bank of England expected to hold interest rates.
European Central Bank expected to raise interest rates.
Employment data.
Currently I have the following position;
Long 300,000 USDCAD with ACB of 0.96662
USDCAD is currently 0.96118 (2011-07-04, 23:41 pm EST)
Our first line of credit was activated on 2011-06-16th (Thurs) and our second line of credit was activated on 2011-06-29th (Wed).
Total equity is 11% of June 1st and we are committed to trade ourselves back to our High Water Mark.
Stay Tuned,
Jeff
(2011-07-04, 23:42 pm EST)
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