1,5788. EUR CAD broke 1,5840 support. 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 (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR CAD. The downtrend should continue to gather momentum.
=> We could take a short position at 1,5790. We will put the stop loss above 1,5840 (-50 pips). The targets are 1,5700 (+90 pips) 1,5660 (+130 pips) 1,5500 (+290 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
1,5820 - 1,5850
1,5720 - 1,5660