EURCAD & Cable breakdowns

Good Evening Dynamic Traders,

Hope you are enjoying your weekend - what's left of it!

Last couple of trading days have seen some massive moves in the markets. The Euro has done a beautiful one to one/flag formation (as mentioned last Sunday) and provided nice profits. What next? Current trend is down and there appears to be weakness so any trades contemplated with this pair should be only in a downward direction unless of course you are trading very short term.

The GBPUSD is looking interesting. It may have completed consolidating and is showing possible signs of a breakout, having closed below support as visible on the chart. Aggressive entries may have already triggered traders in or the conservative traders may wait for a retest after the breakout before entering just to make sure its not just a FO.













The EURCAD is another chart which is showing further breakdown through strong support. This pair has produced some nice profits already and is one where one might look to enter short or compound the position for further gain.














Good Trading!
Bijal Shah