EURCAD Bull Rejection
The pair remains bearish as it has rejected the 0.382 fibonacci level of the correction leg fibonacci retracement. The pair has formed a cup and handle pattern. However the bullish leg of the handle currently seems highly unlikely despite the CFTC COT WEEKLY REPORT showing that hedge funds are still bullish on the EURO while the CAD net position maintained at around 19k for a while now.
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