After the very lucrative last two weeks of shorting the EURCAD, it seems to have gone down as far as it’s going to and is looking like a nice opportunity for a long, as it bounces off support and starts looking for the trend line above current price, or even better, the resistance level far above near the 1.5200. Time to take your profits on the short, if you haven’t already done so, and get on the train to ride it back up. Happy Trading!
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Andres Pedraza
Director at Special FX Academy
Founder and Director of Special FX Academy, Andres is now a full time trader, mentor, and writer. In the past, Andres has held director level positions at venerable trading exchanges including New York Stock Exchange, Euronext, and Fannie Mae. Buy his Forex Trading book here!
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This trade has moved 100 pips in our favor since my alert, and I have adjusted stop to protect 75 of those pips. It may still move further, but time to lock in some profit.