Inside the Currency Market: EUR/CAD

EUR/CAD has been a volatile pair, a good mover and far better than EUR/JPY so we continue with EUR/CAD. Next is USD/CAD and anything with USD in the first position. The other half of the universe is now conquered. We can now hit Targets on USD/ Botswana if we wish.

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EUR/CAD. Bottom. 1.4746. Range break above 1.4975, below 1.4668. Overbought sell point 1.4896 — 1.4933. Strategy. Longs above 1.4821, Target 1.4896. Then reverse short to 1.4858 then 1.4821. Points on the way up, 1.4827, 1.4843, 1.4859, 1.4877, 1.4887, 1.4896.

Shorts below 1.4821, target 1.4783. Watch for reversal here to 1.4821. A break of 1.4783 means lower. Points on the way down, 1.4811, 1.4802, 1.4794, 1.4786, 1.4766, 1.4746.

Brian Twomey, Inside the Currency Market, btwomey.com

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