A great opportunity for Shorting EURCAD
Dear Colleagues
I hope you are well.
I found a great Shorting opportunity for EURCAD. It has been a while since I traded Canadian Dollar but I think currently this pair is offering a great opportunity.
Here are the reasons which I used to enter the trade:
1) This is Weekly Canadian Bond Yield and it seems the uptrend move is continuing and I think it is going to get to the upper band of the wedge. The higher the Yields are the stronger the currency is. On the daily TF it is up 1.47 % and bouncing off the EMAs. The stronger CAD is great for our EURCAD trade. Think about it.
2) This is the Weekly weighted average CAD versus the other 7 major currencies and see how much room it has to complete the wedge again and gets to the overhead resistance. See the red rectangle. This is where I think the price will get to. Again stronger CAD good for our EURCAD short trade. Also remember price has been struggling for 3 weeks to break the previous Fibo overlaps and see how nicely it bounced off the EMAs.
3) This is Canadian Dollar Futures. We would like to see stronger futures, right?. You may say it is heading lower and yes you are right but see the price action. It bounced off the EMAs but a few pips (red circle) and was unsuccessful to make a lower low. See the false breakout of the previous low. (Blue dotted line). I think it is heading up. It is up slightly today as you can see.
4) CAD bonds are also down for 0.31%. FX and bonds move against each other. No chart for this one as it is not clear for the presentation purposes.
Next we discuss today’s Euro market.
5) This is Weekly Euro futures. It is self-explanatory. See how much room we have. Beautiful. Is not it?
6) This is Weekly weighted average EURO and see how RSI screaming. lol. On the daily TF I have triple tops. Considering the above chart I would say we may see a fall in EURO. Cheaper Euro is what we need for our EURCAD short trade.
7) I like this EURO index. It is picture perfect. It moves against EURO. It is clearing heading higher after a false breakout of the wedge and channel. I am on this on Long too. See how much upside room it has to get to the channel overhead.
For entry signals PM me.
Thank you,
Khan
I hope you are well.
I found a great Shorting opportunity for EURCAD. It has been a while since I traded Canadian Dollar but I think currently this pair is offering a great opportunity.
Here are the reasons which I used to enter the trade:
1) This is Weekly Canadian Bond Yield and it seems the uptrend move is continuing and I think it is going to get to the upper band of the wedge. The higher the Yields are the stronger the currency is. On the daily TF it is up 1.47 % and bouncing off the EMAs. The stronger CAD is great for our EURCAD trade. Think about it.
2) This is the Weekly weighted average CAD versus the other 7 major currencies and see how much room it has to complete the wedge again and gets to the overhead resistance. See the red rectangle. This is where I think the price will get to. Again stronger CAD good for our EURCAD short trade. Also remember price has been struggling for 3 weeks to break the previous Fibo overlaps and see how nicely it bounced off the EMAs.
3) This is Canadian Dollar Futures. We would like to see stronger futures, right?. You may say it is heading lower and yes you are right but see the price action. It bounced off the EMAs but a few pips (red circle) and was unsuccessful to make a lower low. See the false breakout of the previous low. (Blue dotted line). I think it is heading up. It is up slightly today as you can see.
4) CAD bonds are also down for 0.31%. FX and bonds move against each other. No chart for this one as it is not clear for the presentation purposes.
Next we discuss today’s Euro market.
5) This is Weekly Euro futures. It is self-explanatory. See how much room we have. Beautiful. Is not it?
6) This is Weekly weighted average EURO and see how RSI screaming. lol. On the daily TF I have triple tops. Considering the above chart I would say we may see a fall in EURO. Cheaper Euro is what we need for our EURCAD short trade.
7) I like this EURO index. It is picture perfect. It moves against EURO. It is clearing heading higher after a false breakout of the wedge and channel. I am on this on Long too. See how much upside room it has to get to the channel overhead.
For entry signals PM me.
Thank you,
Khan
Comment:
60 pips in profit. Slowly but steadily we get to 460 pips of profit.
Comment:
An update to Euro Futures.
Compare the following chart with "5)".
This is weekly Euro futures. See huge move lower compare with previous week's chart. For sure we gonna get to the rising channel.
Final point = EURO is a BIG bear :)
Thanks
Khan
Compare the following chart with "5)".
This is weekly Euro futures. See huge move lower compare with previous week's chart. For sure we gonna get to the rising channel.
Final point = EURO is a BIG bear :)
Thanks
Khan
Comment:
Perfect retest of the broken H&S Neckline.
Comment:
Sorry no chart but all CAD Bonds, Yields, Futures and weighted average are breaking key supports and resistance. A lot to come on your side. :)
Comment:
Rising channel broken. 250 Pips profit so far. LOVE it
Comment:
Why not share with you this chart :) Showing how much room Weighted Average CAD has to get to resistance without any concern...
Comment:
Come on EURCAD, give us 100 more pips. We need that to have a good weekend.
If you cannot, then how about 200 ?!!!
If you cannot, then how about 200 ?!!!
Comment:
If you are following this trade and you only made a small profit or you are in Break Even, I have to say that today all German, Italy and France Yields got to a resistance. We shall see some Euro weakness soon.
Hopefully !
Hopefully !
Comment:
CAD Yields broke the resistance last session and closed red. Opened today with a gap and continuing higher now. Good for our trade. Right? We have stronger CAD and obviously Short EURCAD.