John_Mwaniki

EURCAD Analysis: Price may bounce back downwards

Short
OANDA:EURCAD   Euro / Canadian Dollar
The price has respected a downtrend trendline four times and for the fifth time it looks like it may bounce off too as it has started forming bearish candles. Lets follow it closely and if we confirm a reversal we can go short. Breaking of the trendline will invalidate the setup.

What are your views guys on this? I would like to hear your opinion.
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