EURCAD Will Go Down! Sell!

Please, check our technical outlook for EURCAD.

Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is trading around a solid horizontal structure 1.478.

The above observations make me that the market will inevitably achieve 1.474 level.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.

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Trade closed: target reached:

That was an excellent trade and the target was reached too!