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forexwithfred
May 2, 2021 11:19 PM

EUR/CAD - Break of Market Structure  Short

FX:EURCAD30
Euro Fx/Canadian DollarFXCM

Description

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What Is The Market Telling Us?
  • Price has been in major downtrend since 21st April
  • Break of market structure occured (BMS), pushing price downwards
  • Price is currently forming a retracement phase before bearish impulse


What are Market Participants Doing?
  • 89% of retail traders are long, meaning instituions are still shorting this pair
  • Smart money report (banks & institutions) show over a 90% consumption on EUR shorts
  • 20,000 lots on EUR has been added to the short side
Multiple Time Frame AnalysisChart PatternsBeyond Technical AnalysisliquiditymarketstructurebreakoutEURCADEURCADalgotrading
Comments
Kingdobe
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Love movement MR. Fred What are your thoughts on EURUSD
forexwithfred
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@Kingdobe, Unfortunately this pair did not go my way but I believe EU should look to end ts bullish correction and continue go up
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