EURCAD cleared trendline support (medium term)
Canadian dollar pushed the Euro below the 1.4570 level and a key 12-month rising trendline.
Follow-through will be driven by a lift from oil prices, Canadian unemployment data from last week should continue to provide momentum.
Participation from Euro depends on Thursday CPI data and continued rally in equities.
Placed a short at 1.4570 with a stop loss at 1.4719
Target is the 50% fib level at 1.4110, giving a target profit of 460 pips.
Will look for retest of trendline support and support becoming new resistance
Follow-through will be driven by a lift from oil prices, Canadian unemployment data from last week should continue to provide momentum.
Participation from Euro depends on Thursday CPI data and continued rally in equities.
Placed a short at 1.4570 with a stop loss at 1.4719
Target is the 50% fib level at 1.4110, giving a target profit of 460 pips.
Will look for retest of trendline support and support becoming new resistance
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