EUR CAD Breaks 4 Hourly Support – Swing Trading Candidate

EUR CAD Breaks 4 Hourly Support – Swing Trading Candidate

I have been watching this for some time.

The only thing that’s stopped me posting about it is that I’m bearish EUR and bearish CAD which makes it difficult to remain objective!

However, price may now be showing the way with todays support break. Not sure whether to take the plunge yet, but whatever happens I’ll post a fuller analysis over the next few days. The figures I have in mind at present are a 500 point stop loss and a 1400 point down side target. I’ve been waiting for a 100 – 200 point rally so I can enter with a tighter stop loss, but the rally doesn’t appear to be forthcoming.

Here’s the chart:

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  • Weekly Swing Trading Round Up
    Posted at 23:39h, 19 November

    […] holding the GBP:CAD long, but have now found myself also holding a EUR:CAD short. Which one of these trades is wrong? Could they both be right? I think the answer to that question […]