FX:EURCAD Euro Fx/Canadian Dollar
We are looking at a possible short in EURCAD if the 50% Fib can hold it from moving much higher. With the & both in overbought territory we would like to see them both confirm a move down before taking action. may also hold this pair from moving much higher and causing a pullback. The overall trend is lower over the past 12 months, we will be going with the trend. Like to short @ 1.42261 with a forecast of 1.41623 and a stop of 1.43441.