ade_fx

Long/Short opportunity EURCAD

FX:EURCAD   Euro Fx/Canadian Dollar
EURCAD             is sitting at major support right now and could go either way, RSI is showing positive divergence but the trend is clearly down. I would wait for bullish PA here or a break then re-test of support turning into resistance. Targets to the downside would be the 1.27 and 1.618 extensions. Upside targets would be to around 1.46 area. Stop either side of structure depending on long or short position.
The downside has played out here, look for retraces to possible resistance now as a sell opportunity
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