Wed, 06 Jul 2016 06:50:12 GMT
EUR/CAD 4H Chart: Channel Down
Risks are heavily skewed to the downside. The pair is forming a high-quality descending channel, which suggests a sell-off from 1.45, where the upper bound of the pattern is reinforced by the 200-period SMA and the weekly R1. At the same time, the longer-term indicators are mostly pointing south. Moreover, despite the Euro giving up nearly 10% of its value