Bears win this round for EURCAD

This daily chart is interesting as it shows multiple times that the market has created fake breakouts to trap the buyers.

Now, we see the candles returning inside the bearish trend line - bearish. Also, it sits on an important support level at 1.45360. I am awaiting for it to breakdown, retrace before initiating a sell position.

There are two support levels to be retested at the weekly - 1.40369 and 1.37888.

That will be a 500-750 pips profits down the road if it hit these levels.

Be cautious as this can be volatile judging from the recent price action. You need to stomach the high risk else move on to other pairs.