EUR/CAD - Break of Market Structure
What Is The Market Telling Us?
What are Market Participants Doing?
- Price has been in major downtrend since 21st April
- Break of market structure occured (BMS), pushing price downwards
- Price is currently forming a retracement phase before bearish impulse
What are Market Participants Doing?
- 89% of retail traders are long, meaning instituions are still shorting this pair
- Smart money report (banks & institutions) show over a 90% consumption on EUR shorts
- 20,000 lots on EUR has been added to the short side
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