Risky trade but there is a likelihood EURCAD will revisit the recent Fibonacci line before deciding what it will do next. There are about 500 pips to be made
On the daily chart the pair has squeezed in a tighter and tighter range. If it can break the triangle down, it will probably be a fast ride down to 1.11 S/L 1.38 area
This looks like a perfect continuation triangle, matches the ones in technical analysis articles :) Target - right under 1.27 Stop loss - 1.24740
The chart is in a triangular consolidation pattern. Hourly chart shows bearish candles around resistance. I am shorting here with a mid channel target of 2.24
Tweezer bottoms formed at the end of last week at the support line. Watching for a potential hammer candle to form today. Enter around $34 with a target of $39 mid channel target or $42