unique4x
Long

Correlation Trade Setting Up Between EURCAD & USDCAD

FX:EURCAD   Euro Fx/Canadian Dollar
7 months ago
Current spread is 550 Pips, the widest since mid June 2015.

We will be going Long USDCAD             & Short EURCAD            

These pairs have been 70% to 96% correlated during the past year. Since they have been recently become uncorrelated we expect the correlation to return shortly.

EURCAD             is approximately 25% more volatile than USDCAD             therefore your position size for EURCAD             should be approximately 70% - 80% your USDCAD             position size.

Our algorithm is showing an 89% chance of USDCAD             rising over the next 1 - 2 weeks.
7 months ago
Trade closed manually: We closed our correlation position picking about about 78 Pips. EURCAD short yielded +81.2 Pips while USDCAD yielded -3.1 Pips. Not bad for a low risk trade.
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