Going Down-EURCADEUR/CADOANDA:EURCADNKE_TheAn0malyNow I have my doubts about this trade but I will still present it. This Forex pair appears to be setting up for a short position. My supportive reasoning for going short on this trade is the Trend Channel is short on the 1week and the nearest SL is above the EMA 1week while the candles are below it. The Canadian dollar didn’t have much to report besides a bank holiday to celebrate National day for Truth and Reconciliation The Canadian dollar would appear to have plenty of open play dates, but due to the recent transpiring of the United States government SHUTTING DOWN they most likely will be affected and I don’t want to get caught in the middle of that situation. Last week the Euro released data about CPI PMI Employment and Budgets while the European Central Bank President also spoke at two conferences. All of the data was in line with expectations and the ECB president gave a very strong assessment of the European economy. To summarize her speeches she said that the ECB is in a much more stable position with their expectations on inflation, growth, and employment. She also mentioned wanting to decrease the impact of non bank involvement in banking activities. I wonder what would make her say that (cough) FOMC. Either way this is another economy thats well positioned to entertain risk but unfortunately can’t due to… well you know (US GOVT SHUTDOWN) The Market sentiment recently went back up to risk on but it is still in a close enough position to turn risk off with the flip of a switch so I am being mindful of that. All in All the market has appeared to want to enter into that greed phase for a while now. For now we will just have to wait and see. Until Next Time. Prosperous Trading and God Bless