Trade i'll be monitoring very closely.
If this trade goes bad i won't be keeping it running to hit my Sl i'll be pulling the trade up fast for a small loss.
TP is the ideal level but may have to pull out earlier depending on market situation.
Fundamentals are against this trade hence i'll be watching very closely.
Reason for taking this trade;
Volume to the up...
Fundamental perspective as well as technical analysis.
Real weak economy from AUD.
As well as JPY Corona virus news etc . . .
Will keep this updated as i'm holding this for a short as i'm expecting this to make a new lower low.
Wait till we enter this zone to determine if we should go long or not.
Look at the strength of the bear candles if they're to strong hold on till we get some consolidation then enter.
Based of the weak fundamentals CAD has performed last week.
CAD'S Major weak fundamentals .
- GDP m/m
- CPI m/m
- Core Retail Sales m/m
Overall EUR will be stronger then CAD...