1,6166. EUR CAD is in an downtrend directed by 1H exponential moving averages. EUR CAD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR CAD. The downtrend should continue on 1,5700 support (466 pips).
=> We could take a short position at 1,6165. We will put the stop loss above 1,6285 (-120 pips). The targets are 1,5900 (+265 pips, risk/reward 1:2.2), 1,5700 (+465 pips, risk/reward 1:3.9) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
1,6270 - 1,6390
1,6120 - 1,5900