EUR/CAD - Scope for fall but oversold on hourly timeframe
EUR/CAD - scope for further fall
Falling trend line intact
5th wave truncation points to weakness
Consider all the above bearish ideas, the fall witnessed isn't surprising and the bears appear in control...however, the hourly RSI is oversold and that may play a spoil sport for a while, courtesy of which prices may recover to falling trend line hurdle at 1.4670.
Bearish invalidation is seen only if the prices re-enter the rising channel again.
Falling trend line intact
5th wave truncation points to weakness
Consider all the above bearish ideas, the fall witnessed isn't surprising and the bears appear in control...however, the hourly RSI is oversold and that may play a spoil sport for a while, courtesy of which prices may recover to falling trend line hurdle at 1.4670.
Bearish invalidation is seen only if the prices re-enter the rising channel again.
