Shorting EURCAD as the Pair Pulls Back to Resistance

14 Eki 2014

EURCAD has been in a clear downtrend, but has pulled back over the past week or so. We're starting to see signs of CAD strength return across the board, though, and EURCAD has a setup I thought was particularly favorable. I'm short at 4273, with my stop at 4333, and my target profit at 4003. This gives me a reward/risk greater than 4:1, which always piques my interest.

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