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justatrader

EURCAD Could test 1.46 if resistance is established at 1.52

Short
Euro / Canadian Dollar (FX:EURCAD)  
justatrader Updated   
FX:EURCAD   Euro / Canadian Dollar
8
0
Price has been trending strongly on declining momentum and a top looks to have been formed for the moment. 1.52 - 1.516 is a key zone to watch for. More importantly, the minor support at 1.52 - 1.5203 that has been formed. If resistance is established here, EURCAD could decline down to 1.46. RR is very favorable, but due to thin trading conditions, exit only on a Close above 1.532.
Comment:
Adding the Median line, the price levels look more clear with the ML likely to act as a price guide on the expected decline.
snapshot
Trade active:
Trade in play..
Trade active:
Move stops to 1.5277
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