EURCAD - 4hr chart short-term bullish pressure

Please refer to text on the chart.

EURCAD has had a massive sell off with almost no bounce. This must have exhausted many sellers. Now that price has its first bullish retracement and is holding near the highs, bullish momentum is likely to continue. Should the price continue, the R/R on the trade will be very favorable.

** Remember, we do not attempt to predict the future. We simply react to current price movements based on our interpretations of past data.