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EUR/CAD Big Trade 11.16.2015 +70
11/16 BK EUR/CAD -- Close trade here at 1.4235 for +70 we will reload later
11/16 -- Order to Sell 1 lot EUR/CAD at 1.4305 TRIGGERED
Place Order to Sell 1 lot EUR/CAD at 1.4305
Place Order to Sell 1 more at 1.4505
Stop for ALL at 1.4680
The Paris bombings are a terrible tragedy for France, Europe and humanity as a whole. Even prior to these attacks, the Eurozone was on shaky footing and given that France is the world’s #1 tourist destination, the impact on the economy will be significant. France could maintain a state of emergency for 3 months, discouraging travel and economic activity and tighter borders across the region could also affect how the rest of the Eurozone performs as well. As a result, these attacks increase the pressure on the ECB to ease, which should lead to further weakness in the euro.
At the same time, the uncertainty and geopolitical risks is positive for oil and if some analysts are right in predicting that this will discourage the Fed from acting next month, oil should trade higher.
For these reasons, we like selling EUR/CAD slightly above current levels.