Short term we might see a continuation of the current bearish move within the corrective combination on 4hr time frame. The 1 hour time frame will give us the first sign whether or not the consolidation is ending. Comparable to USDCAD I like to see a first impulse higher of lesser degree and then start buying EURCAD. We have to keep in mind that EURCAD might test 1.4250 first and that's why I'm careful. A corrective combination can take relatively long and I have to determine whether it has finished first.
Thanks. I have the same view which I've shared -- because the last up move from 1.43x is only 3 waves
TimStuyts
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yes I agree, that's why I was conservative in my previous post. Anyway the more it retraces the better the buy once it is finished;-). Good trading to you.