EUR/CAD : Going Strong Still

• Accidentally legged into a short EUR/CAD trade in Jan10. SHS Top still delivering P&L in spades.
• SHS parameters : 1. Distance between Head and NL = (1.7508-1.4799) = 0.2709.  2. NL broken at 1.5301.  3. Therefore, SHS top downside objective = 1.2592.
• Now at 1.3573. Some ways to go yet.
• Watch and see 1.3486 breaks. If not, perhaps it might be sensible to reduce the position temporarily. USD/CAD (now 1.0067) is a whisker away from a fresh down leg though, so likely the former will not hold.