TV

Angus Walker
After Friday’s US jobs figures, the markets appear to be sending out mixed signals. The numbers weren’t that bad according to Saxo Bank’s Head of FX Strategy John Hardy who says there was an “odd reaction”.
Short term
Trade view / 20 January 2014 at 5:56 GMT

EURCAD party still going strong

FX Consultant / IFXA Ltd
Canada

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.

Stop: 1.4815.

Target: 1.5105.

Time horizon: five days.

Four-hour EURCAD with steep trade uptrend channel

eurcad

Source: Saxo Bank

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