EURCAD party still going strong
Trade idea background
The EURCAD trade was stopped out at 1.4805 in a thin Asian market. Our fears that we were late to the EURCAD rally party proved to be well founded as the uptrend channel bottom was broken and the subsequent sell-off broke support at 1.4725
Trade management and risk description
The original trade idea expected the EURCAD rally to continue inside the uptrend channel ahead of the key Bank of Canada interest rate decision on Wednesday.
Trade idea parameters
Original Entry: leave order to buy at 1.4905.
Time horizon: five days.
Four-hour EURCAD with steep trade uptrend channel
Source: Saxo Bank
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