We used today's EUR/USD dip to open fresh long position. A long lower wick on Friday's candle is encouraging.

The CAD firmed on strong wages data today, but trade tensions with the US and doubts about a new NAFTA agreement might add volatility in the near term. We think no USD/CAD position is justified now from risk/reward perspective.

This is how we trade now:

EUR/GBP

Trading strategy: Long

Open: 0.8780

Target: 0.8960

Stop-loss: 0.8690

Recommended size: 1.22 mini lots per $10,000 in your account

Short analysis: Long remains and support from the 10-Day SMA is encouraging as is the long lower wick on today's candle.

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