Hello Traders, welcome to the Daily Forex technical analysis
. Today is September 9th
, 2019 and we will be taking a look at the Euro
against the Canadian Dollar
. Looking at the 1 hour time we are now looking for price action to pullback into it's previous area of resistance at the 1.458 area. If price action continues on with its bearish
sentiment and doesn't reach its previous area of resistance, this set up will be invalidated. But if price action does start to pullback into it's previous area of resistance we will be looking for a short with profitable conditions. If price action pulls back here, a Short entry near the 1.45929 area with a Stop Loss near the 1.46195 region, and target our profit level area of 1.45100 to possibly ensure a profitable 3.12 to 1 R/R.