EUR is not having a great day, but a shift in good numbers from EUR will trigger a bull reaction and may reverse EURCAD. I am waiting for this to happen because every indicator on this chart is hinting a bull reaction. Wait for a confirmation before going in. Risk/Reward adjusted to 2.7.
The EU made a massive push to the downside, leaving the EU slightly over-sold at the moment. If uptrending support holds, we could have a nice bounce up.
As always, keep an eye on news and don't hold losing trades! If support fails, get out.
EURCAD Buy Idea
This pair broke the yellow top TL and created a bullish convergence. We need a two wave move down to retest the TL in order to long.
TP 1 1.4805
TP 2 1.4990
SL below last low + 2 pips + spread 1.4570