Very frustrating on the EURNZD this morning, if anyone can find any info on why the NZD went crazy please let me know. The theory behind the trade was to do with commodity currencies looking like they will move lower today. This includes the AUD, NZD and CAD.
The CADJPY has broken down from a bear flag structure, and oil prices appear to be in a correction phase.
CADJPY 1 Hour chart
Trade Setup: SELL Market execution, current price 87.03, stop loss 87.43 and take profit 86.43.
Stop loss: 40 pips
Take profit: 60 pips