EURCAD has moved impressively off the 38.2 Fibonacci level at 1.3791 and has put in an impressive Marubozu candle with no wicks on Friday. This is a very strong BULLISH sign but that was last week and sentiment may have shifted over the weekend. Technically a run to 1.43576 is possible being the 200m sma on D1 but with H1 and H4 conditions heavily overbought its hard to recommend a LONG trade from these levels. We could see a consolidation period next week for this and other EUR pairs but a SHORT trade is possible if the EUR across the board weakens.
Trade idea. SHORT if the EUR is weak across the board. No LONG trades from these OB levels.
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