EURCAD has started to fall after making double top at 1.47 level. I expect the pair to decline further to hit the first target at 1.4562, followed by next target at 1.4460. SL can be placed on the tip of the pattern at 1.4716.
As we can see this market has formed a long term H and S on weekly and broken neckline and support level near 1.48782, we will be interested to sell it once it pull backs towards this weekly broken support. safe trading!
Last idea attached below is about buying EURCAD. Yesterday we have on it 1 SL and 1 price movement near 80pips. Who closed profit - are good boys :)
Today price closed below buy level (1.5053 and 1.5077) so we trying to sell this pair.
Open sell position on EURCAD - 1.5053
SL - 1.5068
TP - 1.4906
RRR - 1:8.3
Risk reward ratio certainly is too big to be taken....
On the 4hr chart on eurcad we see a bearish butterfly has formed. A shooting star has formed to validate that the bulls have weakened. Look for perfect entry point and short this pair. Use proper money management. cheers