EUR/CAD short trade

I'm starting to build a short position here on EUR/CAD at the 61.8 fib retracement on the Daily chart. In my view the market was very long USD for the past year and we're seeing those positions being unwound this past week along with the FED rate cuts being priced in. This has caused the Euro to rally significantly but I feel the move is stretched now and Its quite possible that the ECB will be forced to cuts rates too, which I don't think is factored in yet. OPEC news today and hopefully a decent size cut in output could see a bit of a rally in CAD. So I've gone with EURCAD as a short trade. I will build this position between here and 1.52