Monday 6/26/2006 14:00 ET
TS #103G Sell EUR/CAD at 1.4163 or close to this price and adjust stop to 1.4185
We are chasing the top of this trend on a difficult cross currency pair. USD/CAD seems to be reversing, and EUR/CAD may have also reached a reversal point or be close to a reversal point at 1.4163. Further examination indicates that 1.4163 is a high probability reversal point also, so - re-entry close to this value is advised.
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Previous trade signals:
TS #103F Sell EUR/CAD at 1.4110 - 1.4120 adjust stop to 1.4154
About 1.4140 is a high probability reversal point, so stop should be raised slightly to 1.4154.
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Monday 6/26/2006 12:00 ET
The following trade signal TS103E was stopped out by a rise to 1.4111 on Friday June 23rd at 9:40 ET. We recommended re-entry at about this level. It since fell to 1.3998 and then just rose again to the 30 day trendline at about 1.4110.
This presents a low risk, high reward entry opportunity.
TS #103F Re-Entry opportunity Sell EUR/CAD at 1.4110 - 1.4120
Stop is 1.4142
Target is 1.3755
Risk is max. 42 pips
Reward is min. 345 pips
Reward : Risk ratio is min. 8.2 to 1
Commentary: on Monday June 26 at 14:05 ET the price rose to a high of 1.4161. The stop was not hit. The 30 day trendline was broken. The price rose to Quantum target 14: 0, a high probability reversal point (the highest one in fact). The price then fell 82 pips to 1.4078 at 4:20 ET on 6/27/2006, and then rose 64 pips to 1.4142 at 8:30 ET on 6/27/2006. It is now likely to descend to hit the targets, as EUR/USD is rising in the last pulse of a corrective phase, before it continues with a probable strong downwards trend, while USD/CAD is now expected to continue down quite strongly in an impulsive trend.<!-- / message --><!-- edit note -->
TS #103G Sell EUR/CAD at 1.4163 or close to this price and adjust stop to 1.4185
We are chasing the top of this trend on a difficult cross currency pair. USD/CAD seems to be reversing, and EUR/CAD may have also reached a reversal point or be close to a reversal point at 1.4163. Further examination indicates that 1.4163 is a high probability reversal point also, so - re-entry close to this value is advised.
__________________________________________________
Previous trade signals:
TS #103F Sell EUR/CAD at 1.4110 - 1.4120 adjust stop to 1.4154
About 1.4140 is a high probability reversal point, so stop should be raised slightly to 1.4154.
__________________________________________________
Monday 6/26/2006 12:00 ET
The following trade signal TS103E was stopped out by a rise to 1.4111 on Friday June 23rd at 9:40 ET. We recommended re-entry at about this level. It since fell to 1.3998 and then just rose again to the 30 day trendline at about 1.4110.
This presents a low risk, high reward entry opportunity.
TS #103F Re-Entry opportunity Sell EUR/CAD at 1.4110 - 1.4120
Stop is 1.4142
Target is 1.3755
Risk is max. 42 pips
Reward is min. 345 pips
Reward : Risk ratio is min. 8.2 to 1
Commentary: on Monday June 26 at 14:05 ET the price rose to a high of 1.4161. The stop was not hit. The 30 day trendline was broken. The price rose to Quantum target 14: 0, a high probability reversal point (the highest one in fact). The price then fell 82 pips to 1.4078 at 4:20 ET on 6/27/2006, and then rose 64 pips to 1.4142 at 8:30 ET on 6/27/2006. It is now likely to descend to hit the targets, as EUR/USD is rising in the last pulse of a corrective phase, before it continues with a probable strong downwards trend, while USD/CAD is now expected to continue down quite strongly in an impulsive trend.<!-- / message --><!-- edit note -->