1,5554. EUR CAD broke 1,5620 support. 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 is high. Bollinger bands are parallel and form the trend. 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 1,5350 (200 pips) support.
=> We could take a short position at 1,5560. We will put the stop loss above 1,5600 (-40 pips). The targets are 1,5460 (+100 pips) 1,5360 (+200 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
1,5590 - 1,5620
1,5530 - 1,5460