EURCAD TECHNICAL ANALYSIS ON H4 TIMEFRAME
EUR/CAD is on its way to the 1.4700 mark, which is right smack at a range resistance on the 4-hour time frame.
What makes the level more interesting is that 1.4700 is also around a falling trend line resistance seen on the higher time frames.
Are the bears waiting at the level? Shorting at the earliest signs of bearish momentum would give you a good reward-to-risk ratio especially if the 1.4700 holds as range resistance or if trend traders haven’t gotten enough of shorting EUR/CAD