Good ~200-300 pip long setup
The pair is looking to stay range-bound within this wedge
Would look for consolidation at 1.63 level before taking long position
Also looking for a potential long-term buy opportunity with a break of the wedge resistance... I like the short NZD fundamentally
Here's a daily chart showing the wedge
Canadian dollar pushed the Euro below the 1.4570 level and a key 12-month rising trendline.
Follow-through will be driven by a lift from oil prices, Canadian unemployment data from last week should continue to provide momentum.
Participation from Euro depends on Thursday CPI data and continued rally in equities.
Placed a short at 1.4570 with a stop loss at...