Cherry94

Chill technical play (May 16)

Long
Cherry94 Updated   
FX:EURCAD   Euro / Canadian Dollar
Fundamentals & Sentiment

EUR:
- Undervalued against other high-beta currencies, as far as market internals are concerned

CAD:
- Expected bad data from the US (MoM CPI and Retail Sales) to impact CAD

Technical & Other

Setup: S(B)
Setup timeframe: D
Trigger: 4h
Medium-term: Uptrend
Long-term: Sideways
Min target: November highs
Risk: 0.42%
Entry: Market
Trade closed manually:
Breakeven
Comment:
The price action is very choppy, the price doesn't hold after negative Canada CPI
Trade active:
got in with a buy limit at the entry price
Comment:
the price action showed strong support forming around 1.4780
Trade closed manually:
Closed slightly below breakeven
Comment:
(0.42% SL)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.