EURCAD is clearly moving inside a channel and we will try to profit from the potential move down once the pair reaches the levels we want it to. If it manages to push higher and complete bearish divergence around the top of the channel along with bearish candle pattern we will be selling. Keep in mind there are news from Canada today so it is better to trade afterwords.
Technical Overview:
H1 – bearish channel, potential bearish divergence
Entry:
H1 Aggresive – Wait for price to push higher and complete bearish divergence along with bearish candle pattern which will give us a trigger for a sell
Target 1 – 1.3920
Target 2 – 1.3770
Stop Loss – above last high created
H1 Conservative – Break below the support zone around 1.3960 and we can go for a sell
Target 1 – 1.3820
Target 2 – 1.3700
Stop Loss – above the broken support
Video Explanation
