The EURCAD has been quite active and with oil higher today early in the U.S. session overlap and the Euro weakening a short was taken risking 11 pips for a potential 106 pips to our daily target at 1.4576.
A glance over that the EURUSD helped confirm the Euro direction was down. As price moved lower, we protected our profit by lowering our stop loss and a retracement just before the U.K. session ended closed our trade.
It will be interesting to learn what the U.K. court decides today regarding the proroguing of parliament by Prime Minister Johnson and how the GBPUSD reacts.
It has been curious seeing a very muted reaction thus far from President Trump regarding the oil attack on Saudi Arabia. Although the president continues with his verbal assault on Fed. Chair Powell… who lowered rates by 25 bp yesterday – as already priced in by the market.
Friday is light on economic news with Germany reporting PPI and Canada reporting core retail sales.
Good luck with your trading!
