Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Short EUR/CAD - May 02, 2012

Short EUR/CAD at 1.3000, Stop at 1.3150, Take Profit at 1.2500

(Look to add to Short position below 1.2900)

Fundamentals:

- Bullish on US, Bearish on Europe - helps CAD hurts EUR

- Canadian economy correlated with US

- European PMI data weak

Technicals:

- Very tight range held since beginning of the year

- Trend momentum strongly bearish across short, medium and long-term timeframes

- Limited scope for counter-trend corrections

Disclosure: I am short FX.

Additional disclosure: I am Short EUR/CAD above 1.3000