EUR/CAD: Negative price tendency: lower high and lower low
Break below 1.4356, which stopped the price rise and it gives more chances for short movement and short positions.
Test of 1.4356 and negative price action formation.
Break below 1.4263 will make for a stronger case for short, as the price will form again another lower low.
Engulfing bar at the break, which is also a strong signal for possible short movement.
The fundamentals are in favour of the CAD, due to the price of Oil.
We need to wait for a slightly better price for a new short position, around 1.4255.
Stefan Dimov Angelov - Head of Stocks Trading
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