We prefer to go short on EUR/CAD
Positioning Bias:
EUR/CAD has recovered slightly after making a low of 1.38822 and short term trend is bearish as long as 1.4150 holds.
On the upside break above 1.4150 will target 1.4210/1.4280 in short term. The pair’s minor support is around 1.3980 and any indicative break below will target 1.3880/1.3790.
Indicator (4 Hour Chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Sell EUR/ CAD around 1.4060, SL 1.4150, Target 1.3855.
EUR/CAD has recovered slightly after making a low of 1.38822 and short term trend is bearish as long as 1.4150 holds.
On the upside break above 1.4150 will target 1.4210/1.4280 in short term. The pair’s minor support is around 1.3980 and any indicative break below will target 1.3880/1.3790.
Indicator (4 Hour Chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Sell EUR/ CAD around 1.4060, SL 1.4150, Target 1.3855.
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