Look for a short trade setup in EURCAD over the next two days, preferably on Feb 22nd around 13:00 GMT or Feb 23rd around 17:00 GMT. Price should stall out around the 50% Fibonacci retracement which coincides with the 3rd square root from the most recent low of 1.51402 set on Feb 18th. Should EURCAD run up to these levels it could stall out presenting a nice short opportunity around 1.55274. A stop of 231.0 Pips, the average true range, could be used as your stop, more aggressive traders may want to use a stop of 1.5x to 2x the average true range. After getting short look for a move back down to 1.53230 - 1.52600 area yielding a solid return.
Here at Unique Forex we combine our team's 40+ years of trading experience with our proprietary algorithm to significantly enhance the trading experience. Utilizing the two, we are able to offer some of the most powerful research on an array of currency pairs. Here you will get all of our research on some of the more popular majors like the EURUSD, but if you would like to get access to the rest of our research head over to www.unique4xpro.com/research.html
If you want to join our trading team check out www.unique4xpro.com
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Tune in to our daily live market insight @ 4:30 p.m. EST on Periscope and Meerkat both @unique4x
Here at Unique Forex we combine our team's 40+ years of trading experience with our proprietary algorithm to significantly enhance the trading experience. Utilizing the two, we are able to offer some of the most powerful research on an array of currency pairs. Here you will get all of our research on some of the more popular majors like the EURUSD, but if you would like to get access to the rest of our research head over to www.unique4xpro.com/research.html
If you want to join our trading team check out www.unique4xpro.com
Also follow us on all of our social media:
Twitter @unique4x
Snapchat @uniqueforex
Instagram @uniqueforex
Tune in to our daily live market insight @ 4:30 p.m. EST on Periscope and Meerkat both @unique4x