EURCAD right now trading at 1.52900 and a possible setup for Short this pair. As we can see in both 4 hour and daily chart EURCAD has found strong resistance at 1.54100. As long as this level will act as resistance we can short this pair to get a minimum of 100 pips as TP1 and can target TP2 as 1.50000 level. If the bears can able to break the psychological support of 1.52000, we might see some heavy selling pressure on EURCAD in upcoming days.
Also if we look at the economic events this week, EUR ZEW economic sentiment and also Eurozone Flush services PMI on the cards to publish. Our analysts are suggesting weakness in EUR pairs for upcoming days. On the other hand, if EURCAD able to break 1.54000, it will fade the bearishness and we might see a bullish run towards 1.58000 level.
This trading analysis is only for getting an idea about the current market situation. This is not a signal. These can be used for education purposes only.