EUR/CAD Bearish Analysis.
Price is in a downward channel and creating LLs and LHs, I am expecting price to create LH at the .886 level at approximately 1.4919 and taking this to create another LL which may end the bearish movement and beginning of a HL on a larger TF.
IF the price breaks above the previous high then it is invalidated which could signal the beginning of a bullish movement, hence the tight SL and the 1:12+ RR.
Price is in a downward channel and creating LLs and LHs, I am expecting price to create LH at the .886 level at approximately 1.4919 and taking this to create another LL which may end the bearish movement and beginning of a HL on a larger TF.
IF the price breaks above the previous high then it is invalidated which could signal the beginning of a bullish movement, hence the tight SL and the 1:12+ RR.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.