For Traders

Analytical Reviews

Trading plan

16.11.202113:00 Forex Analysis & Reviews: Trading tips for EUR/CAD. Price broke through the 2020 low

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/CAD broke through the 2020 low after falling by 17,000 pips.

This is the result of the strategy present yesterday, which was to place buy limits below 1.42700.

As said in the article, EUR/CAD will move up by setting a grid of buy limits from 1.42700 and below, with an increment of 500 pips. Take profit on the breakdown of 1.42700, or at 1 pip above the first order.

This strategy is called grid trading, which is usually used on cross rates. It involves holding positions that are significant in time and distance. For this reason, it is recommended to use swap-free accounts, not increase the volumes in the grid (0.01 standard lot for every $ 1000 of the deposit) and monitor price movements.

Good luck and have a nice day!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.