EURCAD: Trading Opportunity for US Session

Short

Euro / Dollar Canadien (OANDA:EURCAD)

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OANDA:EURCAD Euro / Dollar Canadien

trendanalysis chartpattern waveanalysis euro canadiandollar cad eur eurcad forex trading technicalanalysis

EURCAD is trading in a sharp bearish trend .

The pair is currently consolidating within a narrow horizontal trading range.

Bearish breakout of 1.503 support (hourly candle close below) can give us a nice breakout trade.
Wait for the structure violation, then sell aggressively or on a retest.

First goal will be 1.4993 structure low

In case if the market sets new higher high above the yellow resistance, setup will be invalid.

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