FX:EURCAD   Euro / Canadian Dollar
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The EUR/CAD is trading sideways in a descending wedge formation. We're bearish on the pair, with the latest impulsive move being to the downside, coupled with the 100 SMA serving as resistance, after a recent spike above it failed. The way to trade such setups is to keep things simple, enter on a breakdown of the pattern, with a stop above the upper trend-line and 100 SMA , and no defined target as we're looking for an impulsive bearish move.
nice one,
great analysis!
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