MerlionFX | EURCAD idea
Overall EURCAD is in a downtrend and will soon be testing the previous resistance. However it looks like the downtrend is coming to an end as the pair is forming higher highs and higher lows. RSI is overbought on the 1 hour timeframe, hence I am expecting a slight retracement to the 1.43985 area before continuing the move upside.
Trade active
Entering a short positionSL: 1.45147
TP: 1.43985
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