[FXJourney]

I've started this thread to identify possible opportunities in the market on a daily basis.

This is solely my opinion and hope that the readers find this to be helpful but in no way should be construed as direct trading advice.



USDCAD

Sell USD buy CAD @ 1.2260 with stop loss 1.2295 and take profit 1.2210


1) Bank of Canada did not mention quantitative easing measures as expected by the market, resulted in CAD strengthening.

2) Crude Oil price stay above $48, good support for CAD due to the fact that Oil makes up big portion of Canada export revenue

3) Better than expected economic data recently came out of Canada

[FXJourney]

Seems like take profit was a little early but theres nothing wrong with taking profits.

Next trade I'm looking at will be:

Long AUD, short NZD

Follow up on Monday

[FXJourney]

Long AUD/JPY at 70.68 with a 1-day stop on a close below 67 for an initial target of 76.

[FXJourney]

Long AUD/JPY at 73.61 with a 1-day stop on a close below 71.30 for an initial target of 76.

[FXJourney]

Buy CAD/CHF at current spot (0.9680), risking 0.9545 and targeting a move to 1.00.