I WILL BE BUYING USD/CAD at 1.0594




Buy USD/CAD at 1.0594 or lower
Stop-loss can be put at 1.0294
Target for this trade over the nex few months will be in the direction of 1.1100
REASONS FOR THIS TRADE: The USD has gained nicely against the loonie over the past few days. This is the first real sign of a rally in this pair in a long time. There are a lot of short USD/CAD (Long Loonie) positions in the market, if the USD can keep moving up these positions may be liquidated causing the USD/CAD to rally even higher. High oil price are helping the loonie, but I would be hoping for a rally in the direction of 1.1100 over the next few months.

GOOD LUCK
UPDATE: 16th of August '07 trade closed out for +157 profit - Markets are very jumpy.