Shorting EURCAD as the Pair Pulls Back to Resistance

FX:EURCAD   Euro / Canadian Dollar
85 1 1
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.

Continue your trading education:
at the time of posting the chart the price was already down about 70 pips, so are you waiting for price to retest 4273 or were you already short?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out