After a great day for all the majors yesterday, their trading was a bit more subdued today.  The EUR was particularly reactive to news and with 2 back-to-back candles of over 60 pips each, I looked elsewhere for a trade setup.  The stop loss placement and target areas don't qualify for the reward to risk ratio criterion under such circumstances.

The CAD has not had a great trading range lately and it tends to move more when the North American traders are active.  Overnight it offered up a very low risk trading opportunity after a very nice pullback.

Holidays are over and the currencies are active once again.  Be very cautious around news releases always.

Good luck in your trading!

Back tomorrow.

Michael  www.privateforexcoaching.com