EUR/CAD: Short @ 1.7426 - Up 400 pips

EUR/CAD short trade is rocky and could make a trader nervous about it's direction. I am a bit nervous about it and at the same time I'm not so much. I do think the CAD will bounce back but for now it's having a hard time against the EUR since the market is pouring into EUR due to the turmoil in the North American markets. This trade has been a tough one and that is the case many times when you see a pair highly overbought and you just know it's going to break. I'm at that point right now - I know it will break down but I can't tell when. When I took this trade I sorta knew it would be, but I'm confident the EUR is going to correct back down.

First short was taken out at a 100 pips profit and this trade is now up 400 pips the second time around. I have lowered my stop and locked in 300 pips. Should make up for some of the losses I took on the GBP/DKK pair.