FOREX Trade of the Day: Sell EUR/CAD

Our YouTube video illustrates today's FOREX Trade of the Day and identifies further upside and downside price objectives.

Today's FOREX Trade of the Day was a short EUR/CAD position.

Entry Sell:  1.4427
Exit   Buy:  1.4383

Notional Intraday Profit: +44 pips

Today's intraday High of of 1.4427 was right around the 38.2% retracement of yesterday's Daily range, rendering the retracement level a profitable Entry Sell level.

Today's intraday Low of 1.4368 was below the 23.6% retracement level of the October intramonth range, rendering the retracement level a profitable Exit Buy level.

The Monthly chart below shows how the October intramonth High is right around the 38.2% retracement of the 2014 intrayear range, with the current High in March and the current Low in September.

Upside price objectives include 1.4658 and 1.4810.

Downside price objectives include 1.4183 and 1.3863.


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