Short

EURCAD H4 SHORT PRICE ACTION FORECAST

In the weekly domain, the price has recently reached a physiological resistance level. Recording a strong rejection from buyers that weren't able to push the price to a new high.

That rejection has formed a double top pattern signaling a strong bearish momentum towards the pair. Now checking into H4, a short entry confirmation is expected as a pullback from the previous strong bearish candle and the support from price consolidation.

The order:
Type: sell-stop
S/L: 80 pips - R:R | 1:2 -
T/P: Fib level

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