This week is going to be less chaotic than the last weeks. I expect certain movements in price this week. Wish you all the best.
3EURCAD
Trend: EMA50 > EMA100 > EMA200 à Uptrend!
Strong upcandle on Friday. Place a buy-stop-order a few pips above Friday’s high. Place your stop-loss a few pips below Thursday’s low. If target 1 is hit, close half of your position and pull your stop-loss to break even and wait for target 2 to be hit.
Seasonal: 57% up, 130 pips up, 150 pips down.
COT-Data-Analysis
CAD is strong with a reading of 100 on the index on all timeframes when looking at the commercials. EUR is weak with a reading of 0 on all timeframes. But: It was the data collected on Tuesday. Be careful. Use stops. With my suggestions we are trading against the sentiment. Price could also fall back to 0.5 Fibo-Retracement.
