The Cad has moved up extremely well over the past few weeks and the market has come within 15 pips of our first long term target. A new pattern has shown itself and I expect to see the Cad continue up to around 1.0150-79 however we are comming into months end and have had a really strong move so I will begin to look for an exit point.
The USD/CAD has been putting its high in around 4-5 pm eastern lately so may get an opportunity to actually see parity or higher today. As you can imagine there are probably a lot of sell orders sitting around parity and I would hate to miss a squeeze play against them which would push the market up even higher. If that happens it will need force and will likely happen fast.
So for now I am holding but will consider pulling out at parity depending on price action. If you have been following this trade from the begining your worst position should be up around 100 pips and the best position as much as 900 pips as the last level we gave was 9060 for a long term buy back to parity. With that said regardless of what you choose to do you should make out very well.
I will keep you updated on how I handle this. If I dont post back you can assume I am holding.
