informedtrades
Short

Euro Showing Weakness Across the Board

FX:EURCAD   Euro / Canadian Dollar
36 0 0
The euro             is showing weakness across the board. After careful deliberation, I chose EURCAD             as the pair to short, mainly because there are some signs of CAD strength against other currencies and because I found the technical setup to be most appealing. Today's candlestick , while not completed at the time of this writing, is looking like a reversal candlestick signalling bears are ready to re-enter after the bulls executed a pullback in the primary downtrend. We're now at a support level , and I've used an AB=CD pattern to identify point D as a target based on the size of the pullback.

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