Back With The EURCAD!

Good evening ladies and gentlemen

I hope you have all had a wonderful weekend! I have really missed doing the updates for the two weeks and am glad to be back! During that time, I am sure you all managed to take what's yours while still leaving some on the table for my return! Thank you very much!

So today I put in an entry for the EURCAD as a short! I have not yet been triggered in but let's have a look at my reasoning! Below is the daily chart. I can say that the chart is probably not to everyone's liking! It's quite an irratic currency with no clear trends. Having said that, recent action has moved down in a very regular manor with a couple of deep pull backs but nothing unfamiliar to us Smart Money Traders! Price is now below a pschological round number, where it did a DT in a downtrend, and the 200 MA is heading in a downwards direction. Stochastics is also giving a fake signal. I am now looking for a pull back and a break of the current low where I have put in an entry using the ESLT. My stop is at 1.4788. I have drawn in some S and R Lines that may prove a challenge but as always they are there to be broken. Being mechanical trend traders, all we can do is wait to see if price has the momentum to do so!!



As always do your own analysis! God it feels great to be back!!

I will leave you with this thought "How could I add true value to someone else's life?"

Total abundance is our birth right!

Zaheer Anwari