Trade Update: AUD/CAD Stops To Break-Even

Last updated 3/1/2010 12:51 PM EST (GMT -5) 0 Comments - Add your comment
Tags:

FX360 Technical Analyst Staff

Technical Analyst, GFT

last
change
volume
Last Updated: 10 min ago

Stops have been moved to break-even (.9454) on our current AUD/CAD short as prices have dropped rather aggressively after having gapped up over the weekend but unable to make new highs. Falling prices are currently testing bull trend line support, so a corrective rally over the next few hours wouldn't come as a surprise although bearish momentum seems intact. Profits will be taken at the .9324 if taken out overnight; otherwise, we'll reassess in the morning to see if the extended target of .9088 will come into play.

Comments (0)

Add Your Comment

Please login to post a comment or sign up for an FX360® account.

TRADE IDEAS

  • Trades to Watch
  • Trades in Progress
currency trade idea
GBP/USD
Medium term



 Sell Sell at 1.5904
Stop at 1.5924
Target at 1.5874
currency trade idea
CAD/JPY
Long term
Opened 2/10/2012
 Buy Long from 77.6500
Stop at 76.65
Target at 78.9
GBP/CHF
Medium term
Opened 2/8/2012
 Sell Short from 1.4470
Stop at 1.4602
Target at 1.4352
AUD/CAD
Medium term
Opened 2/6/2012
 Buy Long from 1.0740
Stop at 1.0655
Target at 1.085
These are hypothetical trades and should not be relied upon as a substitute for independent research.

LATEST BUSINESS NEWS

MARKET NEWS ALERTS

Receive daily commentary, technical analysis reports and potential strategies from Kathy Lien, Boris Schlossberg, David Morrision and their team of technical analysts.
  • Your first name:
  • Your last name:
Your email address:




Already getting alerts but don't have a FX360 account? Manage your subscriptions by creating an account now.

Already have an account? Manage your subscription here.

CENTRAL BANK RATES