EURCAD more room to the upside but heavily overbought
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.
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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