EUR/CAD SHORT
Price made an extremely wide-range bearish candle on Friday of last week, blowing through major support at 1.5050. this bearish momentum is likely to continue into next week, especially after breaking and closing below such a strong level. We are in a downtrend setting Lower Lows and Lower Highs, with price trading below both the 20 and 50 day SMAs. We want price to pullback a little bit to start the week, and get in short around the area of the broken support turned resistance of 1.5050. I would like to then ride price down to the 1.4900 level of strong weekly support.
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