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:


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.

Subscribe Plan to Read more

Subscribe to premium content!

  • Daily trading ideas - click to view sample report
  • Entry, target, stop-loss levels
  • Position size in lots
  • Short analysis to each trade
  • Forex newsletter - latest currency market news and trading ideas
  • Access to premium content on MyFXspot.com


Cron Job Starts