Canadian Dollars and T-Notes Sense

10-Year T-Note Futures, Daily Chart

The 10-Year Treasury Note continues its descent after having given two additional levels to get short beneath last week. At some point it's going to snap back so you have to pay attention to your trailing stop.

Each one point move in the Note futures is worth $1000 per contract, so you can see how dramatic the gains (and losses for those on the wrong side) have been over the last couple of weeks.

Canadian Dollar Futures, Daily Chart

Here's our old friend the Canadian Dollar. The short sale that I suggested last week didn't come to pass as the weekly trend exerted itself and pushed price higher, but I still like the CD from the short side, for a scalp at the very least. (Each $0.0001 move is worth $10 per contract.)

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