A trend continuation on the EurCad

28 בדצמ׳ 2016

After a massive bull move pushing this pair up over 300 pips, we are finally getting a good retracement and potentially a place to get long. Price has retraced down into structure, the RSI has gone extremely over sold, and we also have the 78.6% Fibonacci level at the current price as well. If you are an aggressive trader then you could hop on right now and still get a good 2:1 risk to reward. If you are more conservative then you could look for a double bottom or a candle stick formation that signals a reversal on a lower time frame.