selfrighteousgambler
Short

POTENTIAL CADUSD SHORT @~0.5359

FX_IDC:CADGBP   CANADIAN DOLLAR / BRITISH POUND
January and February saw the Canadian Dollar             fall to below 0.52000 against the Great British Sterling.

March has seen some revival as the pair is correcting itself - possibly to a 50% retracement of the down move. This move should be halted by the supply zone marked out by the red horizontal lines. We should see a bounce off this area.

The March move is currently on its extension move and should head to the 161.8% price zone (coincidental with the 50% retracement ).

With a 200-pip potential reward, this is a very enticing trade to take. The demand zone , highlighted by the green horizontal lines, may be a good target for profit, although prices should push further down.
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