1,5518. EUR CAD is in an downtrend directed by 4H exponential moving averages. EUR CAD is in a consolidation after the last bearish movement. EUR CAD is in a range between 1,5400 and 1,5700. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR CAD. The downtrend should continue on 1,5380 (140 pips) support.
=> We could take a short position at 1,5520. We will put the stop loss above 1,5590 (-70 pips). The targets are 1,5420 (+100 pips) 1,5380 (+140 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
1,5585 - 1,5665
1,5510 - 1,5400