- Price has retested the 1,3700-1,3800 key support during last three weeks, but could not close above Kijun Sen, not even above the horizontal line. setup remains strategic on this time frame.
- Heikin Ashi weekly candle turns red, haDelta/SMA3 down, and will likely stay below zero line. This is a signal of a continuation.
- Daily setup is still neutral, Price is trading in a thick Kumo, and bears face some stronger resistance ahead ard 1,3400. Please not that 1,3400 is also weekly Tenkan Sen.
- Heikin Ashi signal is firm .
So theoretically EURCAD is recommended for short, but I don't know how well it can perform, so try to sell it on spikes to catch better risk-reward.
As I wrote in my last comment, I am undecided with the faith of WTI: actually I am becoming less , slightly more on Oil prices for the coming months, because of reasons such as OPEC meeting, stronger USD, tanker capacities and increasing tanker rent prices, etc. When we look at CAD, we can not ignore the fact that Oil price effects either.
So for now I'd allocate less on this position, or else, as a portfolio manager I'd consider to sell some WTI as well.