Another great example of the benefit of the Weekly Strength Index. This tool is proving to be a game changer again this week with markets a little quieter with the 4th of July celebrations in the US.
However opportunity is everywhere and particularly if you have the confidence of the of the weekly strength Index. This tool has been invaluable for those in the GMT FX live Group.
The EURCAD was another trade that lined up nicely with our monthly, weekly and daily charts.
This coupled with the Weekly Strength Index of the EUR -43 bearish and a bullish CAD 53 this trade slipped into the high probability category. Please see the table below.
With price breaking the Jeff donchain channel on our left we picked up a nice 180pips early in the week to set the tone for a strong start to the month of July.
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Team GMT Futures & FX