EURCAD: Clock is ticking...

FX:EURCAD   Euro / Canadian Dollar
EURCAD has one more week left to reach 1.47561.
If it doesn't, it will most likely turn into a short with a 1 weekly ATR stop.

13 week CCI is showing bearish divergence, and we're close to 6.18 std deviations from the linear regression of the downtrend from high to low (figured it was an interesting value).
Rgmov is stuck in a range, not putting out any new highs while this advance lasted, which isn't particularly bullish to begin with.

I'll monitor this pair and update the post when we get the entry, for now, remain vigilant, the news today and tomorrow are of very high impact , we might get an earlier entry watching the daily and 4h charts.
The ideal first target would be a retest of the mode at 1.37066 but there's a previous mode at 1.42518 that might make the pair slow down, or reverse before reaching it, so keep that in mind when managing the position (if we ever take it).
You can try with pair trades, or directly trading the cross.

Good luck,

Trade closed: stop reached
guess you were wrong here too bud
Hi jvan what is zoar view on this pair now
IvanLabrie manijeh.kazemi.33
Euro rallied beyond belief...it's hard to stay cool about it.
I wouldn't want to short it, that's for sure. Not without a clear setup in the 4h chart, at least.
+1 Reply
EURCAD's offering us a short.
I entered, stop above the last swing high in the 30m chart.
+1 Reply
Downtrend expiration date is this Friday, target hasn't been reached, and price already went down, we can look for shorts in lower timeframes.
Good idea, Ivan. EUR/AUD has the same parameters and is getting ready for a +800 pips drop. High correlation
IvanLabrie SharifAzadeh
It's mainly crude oil about to drag cad and eur down, hard.

Last visible time at mode signal on the daily expires on the same date as the weekly one.
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