Previous, I have a long CAD/EUR strategy, however, the price movement is not following the original expected rhythm to go North based on timing. It is wondering in the open price level.
So, if the long order was opened at this moment, we could consider close the long order, and wait to see if the price could break out the triangle area to South after Aug 25 Canada event "ECB President Speech".
In a long term down trend channel, the price is touching the top line area, but still cannot break out to North. It is moving inside a triangle area, so we don't know if it will break out to North or South finally
But in long term weekly time frame, the "Stoch RSI" is in over buy level and crossed. It will be possible turn to south.
If the price could break out to South, then, it could be a long term big down movement and the target price will be 0.59899 on Nov 20, 2023.
But it could still have chance to break out to North. So, we need to see if the price can move out from the Triangle area first, then make decision.
Since the go North expect profit maybe not big as go South expect profit, we could based on open short order as first priority strategy.
For safe, we could consider to open pending sell short order.
So, if the long order was opened at this moment, we could consider close the long order, and wait to see if the price could break out the triangle area to South after Aug 25 Canada event "ECB President Speech".
In a long term down trend channel, the price is touching the top line area, but still cannot break out to North. It is moving inside a triangle area, so we don't know if it will break out to North or South finally
But in long term weekly time frame, the "Stoch RSI" is in over buy level and crossed. It will be possible turn to south.
If the price could break out to South, then, it could be a long term big down movement and the target price will be 0.59899 on Nov 20, 2023.
But it could still have chance to break out to North. So, we need to see if the price can move out from the Triangle area first, then make decision.
Since the go North expect profit maybe not big as go South expect profit, we could based on open short order as first priority strategy.
For safe, we could consider to open pending sell short order.
Comment:
Aug 25 is EUR event "ECB President Speech".
Comment:
May open pending sell stop order on Aug 28.
Order cancelled:
Since long EUR/USD strategy has been cancelled. this strategy was about long EUR. So, cancelled this strategy at this moment.
Trade active:
Short order enable
Trade closed manually:
Stop short CAD/EUR order. Need to long it.