1,6286. 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. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR CAD. The price should find a resistance below 1,6335 (49 pips). The downtrend should resume.
=> We could take a short position at 1,6290. We will put the stop loss above 1,6400 (-110 pips). The targets are 1,6035 (+255 pips, risk/reward 1:2.3), 1,5930 (+360 pips, risk/reward 1:3.3) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
1,6335 - 1,6440
1,6185 - 1,6035