I posted on Tuesday that “I would be looking for a +260 pip move” down on EURCAD from the live price .
The techs didn’t let me down and the move lower over the last 3 days stopped bang on the money.at 1.5600 . Link to Tuesdays post here .
We could see a bounce from these levels, yet I cant see any reason to buy. I’ve set out some markers on the chart below that I will be watching closely to add to my core short position……………… Congratulations if you were along for the ride on this one and keep your shorting hat on as I feel there is much more selling pressure to come .
Original chart entry below