MartinScull
Long

EUR/CAD CAD/CHF Correlation

FX:EURCAD   Euro / Canadian Dollar
Hi Traders,

Here we have a Fibonacci study drawn on a daily chart for the EUR/CAD pair. Friday's close saw a hammer formation push above the 61% retracement after a week spent forming a support base at 50%.

The line below EUR/CAD shows the direction of CAD/CHF and the clear, negative correlation between the two pairs. As it stands I'm looking for long entries with EUR/CAD in conjunction with short entries in the CAD/CHF pair.

Happy trading!
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