Unfortunately yesterday after a series of good trades I took a loss on EUR/CAD. I tried 2 times to go long but I was forced to close the trade at a loss because of the market action. The reason why my timing was wrong is because the CAD dollar has a strong seasonality pattern during the first part of Jun which I overlooked. EUR/CAD has just broke outside some consolidation pattern and if we project that range to the upside we get a target of 1.4500. Timing remains key with this cross pair as it is quite volatile and the loss can be bigger, so I'll keep it on my radar to see if I can spot another opportunity.

Figure 1. EUR/CAD 15 Minute Chart.

Again I'll have to admit that even thought I was expecting a bearish reaction on the NZD cross pairs, during the RBNZ rate decision, I've missed that trade. That was really a nice opportunity to make some extra money.

Best Regards,
Daytrader21
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